OPEC crude price inches below record level

June 11th, 2008 - 11:08 pm ICT by IANS  

Vienna, June 11 (DPA) The price for crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) moved below the $130 mark Tuesday, data released by OPEC showed Wednesday. One barrel (159 litres) of OPEC-produced crude stood at $128.65 Tuesday, down $2.22 from the record-setting $130.87 the previous day.

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

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