OPEC crude price weaker, but remains above $110

April 28th, 2008 - 6:54 pm ICT by admin  

Vienna, April 28 (DPA) The price for crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) was down slightly by the end of last week, OPEC said Monday. One barrel (159 litres) of crude oil from OPEC’s 13-brand reference basket stood at 110.01 dollars Friday, down 62 cents compared to the previous day.

OPEC, which is responsible for about 40 percent of the world’s crude production, calculates an average basket price based on 13 important brands produced by cartel members.

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