OPEC crude price continues to climbApril 10th, 2008 - 4:49 pm ICT by admin
Vienna, April 10 (DPA) The price for crud produced by the Organization of the Petroleum Exporting Countries (OPEC) continued to climb, OPEC said Thursday. On Wednesday, one barrel (159 litres) of OPEC-produced crude stood at $102.38, up $0.49 dollars from the previous day.
OPEC crude followed international bullish trends by nearing its all-time high of $102.88 reached March 14. Crude and product futures were strong, with West Texas Intermediate (WTI) posted oil price shortly peaking on the New York Mercantile Exchange (Nymex) at $112.21 dollar per barrel.
Vienna-based analysts expect prices to remain high, strengthened by the upcoming hurricane season in the Atlantic.
OPEC calculates an average basket price derived from 13 brands produced by its member states. The cartel is responsible for about 40 percent of the global crude output.
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- OPEC crude oil price plunges five-month low - Sep 03, 2008
- OPEC oil price slides to $68.86 - Feb 09, 2010
- OPEC oil price dips below $40 - Jan 21, 2009
- OPEC oil price sheds $1.64 - Jan 20, 2009
- OPEC oil price jumps to $50 a barrel - Apr 03, 2009
- OPEC daily basket price hits $97.34 per barrel - Jun 13, 2012
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