VIENNA, Nov 25 (KUNA) -- OPEC daily basket price rose Wednesday by USD 2.25 to settle at USD 81.75 per barrel, compared to USD 79.40 pb last Tuesday, as per the organization's bulletin.
The bulletin also mentioned that the annual basket price for 2020 reached USD 41.47 pb.
This surge in oil prices for third day in a row comes as a result of doubts in regards to the United States decision of releasing 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) in order to curb rise of prices.
It is speculated that the latest American decision will be amongst the premises that will be discussed by the OPEC+ alliance in the upcoming ministerial meeting next month.
It is unclear whether OPEC+ will respond to the demands of major energy consumers or will it continue in caution and increase output gradually, as oil ministers of OPEC and non-OPEC countries had agreed on hiking the oil production by some 400,000 barrels per day until December.
The alliance's officials are scheduled to re-examine market status at a meeting due on December second. (end) amg.aai