OPEC oil price back above $49

November 17th, 2008 - 5:02 pm ICT by IANS  

Vienna, Nov 17 (DPA) The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose to $49.09 Friday, after having dropped by more than $7 over the course of last week.One barrel (159 litres) of OPEC crude was up $1.36 at the end of the trading week, from $47.73 Thursday, OPEC said Monday.

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

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