OPEC crude price rises
October 30th, 2008 - 7:04 pm ICT by IANSVienna, Oct 30 (DPA) The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose by $2.23 Wednesday, as the weaker dollar buoyed oil markets, according to data released by OPEC on Thursday.One barrel (159 litres) of OPEC crude stood at $58.13 Wednesday, up from $55.90 on the previous day.
The oil price rebounded as interest-rate cuts in the United States and China on Wednesday led to a depreciation of the dollar, Vienna-based analysts JBC Energy said.
OPEC calculates an average basket price based on 13 important brands produced by its members.
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- OPEC oil price jumps to $50 a barrel - Apr 03, 2009
- OPEC oil price gains over $2 - Mar 05, 2009
- OPEC oil price dips below $50 - Nov 13, 2008
- OPEC oil price stays above $51 - Apr 16, 2009
- Fresh petrol price hike of Rs.1.80 per litre - Nov 03, 2011
- OPEC oil price sheds nearly $1 - Apr 08, 2009
- Opec oil price drops to 22-month low - Nov 12, 2008
Tags: crude oil, crude price, depreciation, interest rate cuts, oct 30, oil markets, oil price, opec, organization of the petroleum exporting countries, petroleum exporting countries
