The Organization of the Petroleum Exporting Countries (OPEC) said Wednesday that its basket oil price rose 0.15 dollars the previous day, stopping the downward movement that set in early December, DPA reported.
OPEC-produced crude stood at 70.79 dollars per barrel (159 litres) on Tuesday.
The cartel's 12 oil ministers are scheduled to discuss oil producion quotas next Tuesday at a regular meeting in Angola's capital Luanda.
OPEC oil price stops downward movement
See Also:
- OPEC: World oil demand growth to be weaker than expected due to economic concerns
- IEA revises down forecast on global oil demand
- OPEC downgrades forecast for Kazakhstan's oil production
- OPEC expects Azerbaijan’s oil production at 0.99 mln bpd in 2012
- JP Morgan: Global oil demand growth to be moderate in first half of 2012
