OPEC oil price inches above $42

February 2nd, 2009 - 6:06 pm ICT by IANS  

Vienna, Feb 2 (DPA) The price for oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) rose to $42.04 Friday, the Vienna-based cartel announced Monday.One barrel (159 litres) of OPEC-produced crude inched up by $0.83 at the end of last week.

OPEC calculates its basket price based on 12 brands produced by its members.

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