OPEC crude price cracks $105

April 16th, 2008 - 5:23 pm ICT by admin  

Vienna, April 16 (DPA) The price for crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) continued its record-breaking rise, OPEC said Wednesday. One barrel (159 litres) of crude produced by the cartel’s 13 member states stood at $105.73 Tuesday, up $1.71 from the previous day, reaching a new all-time high.

In its monthly forecast released Tuesday OPEC left its prediction for 2008 crude demand growth stable. OPEC predicted a global increase by 1.2 million barrel per day to 87 million barrels.

OPEC followed global bullish trends, as oil prices reached new records. New York Mercantile Index closed at $113.79 and Brent at $111.58 Tuesday.

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