VIENNA, July 17 (Xinhua) -- The daily average oil price of the Organization of Petroleum Exporting Countries (OPEC) hit a new record of 72.83 U.S. dollars per barrel on Monday, up 0.34 dollars from the previous trading day and 0.16 dollars higher than the previous record set last August.

    The OPEC's weekly average prices also reached a record high of 71.86 dollars per barrel, 0.14 dollars higher than the previous record set in the second week of August 2006, the cartel's secretariat said on Tuesday.

    Analysts attributed soaring oil prices to a high demand for gasoline in Europe and the United States, a shortage of refining capabilities, the volatile security situation in OPEC member country Nigeria, the cartel's refusal to increase output and speculation in the oil market.

    In addition, the market was still very sensitive to uncertainties in Iran's nuclear issue and hurricanes in the north Atlantic.

    Therefore, international crude oil prices would hover at the high point, while supply pressure could not be eased in the near future.

    The daily demand for crude oil in the international market next year would increase 1.3 million barrels from the current 85.6 million barrels this year, lower than the 2.2-million-barrel jump predicted by the International Energy Agency (IEA), said the monthly report for July issued by the cartel's secretariat on Monday.

    The OPEC believed that, due to rising cost of energy, new measures of energy saving and alternative energy, demand for crude oil would be reduced.