Iran’s light crude price exceeds $53 pb

Iran’s light crude oil price rose by $ 1.24 in the mentioned period registering a record rise among other producing countries.

The oil price rise over the past weeks is mainly due to the commitment of OPEC and non-OPEC producers to a decision to reduce oil production.

Also, the Iranian heavy crude rose by 42 cents reaching $ 53.47 per barrel.

In their 171th general meeting in Vienna on November 30, the OPEC member-states approved oil freeze.

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