OPEC crude cracks 140 dollar mark

July 4th, 2008 - 8:25 pm ICT by IANS  

Vienna, July 4 (DPA) The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) jumped above $140 a barrel for the first time Thursday, a statement issued by OPEC said Friday. One barrel (159 litres) of OPEC-produced crude stood at $140.73 Thursday, up $3 from $137.73 dollars on the previous day.

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

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