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OPEC's crude price stands above USD 55 pb

VIENNA, Jan 22 (KUNA) -- The price of OPEC's crude oil was stable above USD 55 per barrel, affected by the new US administration's steps to increase international demand on oil and expectations of a drop in US oil reserves.
According to OPEC's Friday bulletin, the price of OPEC's crude basket reached USD 55.14 pb on Thursday, compared to USD 55.75 pb on Wednesday.
The annual rate for the basket's price for 2020 was USD 41.47 pb, it added.
On January 5, OPEC's oil ministers agreed on committing to production limit and gradually reach two billion barrels a day in markets. (end) amq.ag