OPEC oil: USD 43.40 pb

VIENNA, July 29 (KUNA) -- The Organization of Petroleum Exporting Countries (OPEC) on Wednesday said price of its crudes, on Tuesday, rose by 26 cents to USD 43.40 per barrel against 43.14 pb Monday.
OPEC said in its bulletin that the average annual price of its basket of crudes for the past year stood at USD 52.43 pb.
Analysts believe relative hike of the oil prices IS due to demand improvement and decline of American reserves.
They predict that the oil pries next year will increase to 50-55 pb, following the record bearish trend of the rate this year due to repercussions of the coronavirus crisis. (end) amq.rk