TEHRAN – The price of Iran’s light crude oil in the week ended on June 30 rose $1.79 to stand at $43.82 per barrel, IRNA reported.

The country’s light oil price was reported $49.09 on average since the beginning of 2017 until June 30.

Meanwhile, Iran sold its heavy crude oil at $43.71 per barrel in the mentioned week, up 78 cents from its preceding week.

Meanwhile, with $1.15 rise from its preceding week, Organization of Petroleum Exporting Countries (OPEC)’s basket price stood at $44.57 per barrel in the mentioned week.

According to Reuters, Oil prices settled nearly 3 percent lower on Friday as rising U.S. production and OPEC exports hitting a 2017 high cast doubt over efforts by producers to curb global oversupply.

OPEC exports were two million barrels per day (bpd) higher in June than in 2016, despite of an extension of a 1.8 million bpd production cut deal led by the Organization of the Petroleum Exporting Countries.

EF/MA