OPEC crude price crosses $100.50 to a barrel

March 12th, 2008 - 5:31 pm ICT by admin  

Vienna, March 12 (DPA) The price for crude produced by the Organisation of the Petroleum Exporting Countries (OPEC) reached an historic high when it exceeded $100. According to the OPEC Secretariat Wednesday, one barrel (159 litres) of OPEC-produced crude stood at $100.57 Tuesday, up over a dollar from the previous day when it stood at $99.48.

OPEC, which pumps about 40 percent of the world’s crude, calculates an average basket price of 12 important brands produced by member states.

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