OPEC crude price continues to rise

March 13th, 2008 - 7:33 pm ICT by admin  

Vienna, March 13 (DPA) The price of crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) is continuing its climb to new highs, the cartel said Thursday. The OPEC secretariat said one barrel of OPEC’s basket of major brands stood at $101.38 Wednesday, up 0.81 dollars from the previous day.

The 13-member cartel produces about 40 per cent of the world’s crude supply. The ongoing rises follow last week’s decision by the cartel not to raise production levels.

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