| The weekly average price of the Organization of Petroleum Exporting Countries (OPEC) declined to 107.02 US dollars per barrel last week, compared with 109.28 dollars a week earlier, the Vienna-based cartel said Monday. This is the third consecutive weekly decline of the OPEC basket price, a sharp drop from 114.5 dollars in mid-February, the highest level in recent months.
The three-week long decline of the OPEC basket price is supposed to be affect by the uncertain monetary policy of the US Federal Reservethe and downgrading of Italy's long-term foreign and local currency Issuer Default Ratings (IDR) to ' BBB+' from 'A-' last Friday...............................................Full Article: Source
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