Shafaq News / The price OPEC oil basket increased to $ 40 a barrel for the first time in four months, due to higher official selling prices, according to Data from the organization.

The price of the basket reached 42.66 dollars per barrel on July 1; about 12 percent more than the previous day, it is also the highest level since March 3, according to the Data.

Two OPEC resources stated that, “The increase is due to higher selling prices for many of the organization's producers, such as Saudi Arabia, Kuwait, the UAE and Iraq”.