OPEC crude price passes $136 mark

July 1st, 2008 - 5:27 pm ICT by IANS  

Vienna, July 1 (DPA) The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued to climb to a new record level above $136, figures released by OPEC Tuesday showed. One barrel (159 litres) of OPEC-produced crude stood at $136.03 Monday, $0.72 higher compared with $135.31 dollars the previous day.

Oil production in OPEC countries rose to 32.57 barrels per day in June, Vienna-based analysts JBC estimated.

This increase of 230,000 barrels from May was partly due to higher output in Saudi Arabia, which pumped 200,000 barrels more in June than in the previous month.

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

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