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OPEC crude price near record level

Sahil Nagpal 16 June 2008

Vienna -Organization of the Petroleum Exporting Countries The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose to 130.52 dollars on Friday, OPEC said in a statement on Monday.

One barrel (159 litres) of OPEC-produced crudes stood 0.75 dollars higher on Friday, compared with 129.77 dollars the previous day.

In the past week, the price for OPEC crude hovered slightly below the record price of 130.87 dollars set on June 9.

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

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