The monthly report by the Organisation of Petroleum Exporting Countries (OPEC) on the global movement in oil prices revealed that crude oil prices increased in April 2023. Specifically, the OPEC Reference Basket (ORB) increased, on average, from $78.45/Barrel in March 2023 to $84.13/Barrel in April 2023. This represents an increase of about 7.2 percent.
May 18, 2023