Iran's light oil allocated the highest price increase in the week ending December 15 by gaining 1 dollar and 20 cents which hit $63.23 cents a barrel, Iran's Petroleum Ministry said in a report released on Saturday.

Iran's heavy oil price in the above-mentioned week gained one dollar and 2 cents per barrel and reached 60 dollars and 49 cents a barrel.

OPEC oil price basket in the week ended on December 15, was 61.71 dollars, registering 87 cents gain in comparison with the previous week.

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