OPEC crude price hovers above $120 mark

August 5th, 2008 - 5:09 pm ICT by IANS  

Vienna, Aug 5 (DPA) The price for crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) has declined slightly, according to a data released by OPEC Tuesday. One barrel (159 litres) of OPEC-produced crude stood at $120.80 Monday, 28 cents lower than the $121.08 recorded the previous day.

OPEC calculates an average basket price based on 13 important brands produced by cartel members.

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