OPEC oil price rises above $46 to a barrel

January 7th, 2009 - 7:00 pm ICT by IANS  

Vienna, Jan 7 (DPA) The price for oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) continued to rise Tuesday, climbing to $46.27, the Vienna-based cartel announced Wednesday.One barrel (159 litres) of OPEC-produced oil rose by $2.41 from Monday.

OPEC’s basket price moved upwards for the seventh day of trading in a row. It has gained $12.91 since Dec 24 of last year.

The current spat between Russia and the Ukraine over natural gas, which has affected European gas supplies, contributed to rising oil prices, Vienna-based analysts JBC Energy said.

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