The oil price of the Organization of the Petroleum Exporting Countries (OPEC) inched upwards to 77.59 dollars towards the end of the week, the group announced Friday, DPA reported.
The price for one barrel (159 litres) of OPEC-produced crude oil gained 0.44 dollars on Thursday, after falling by nearly 2 dollars on the previous day.
The 12-country cartel produces over a third of global oil supplies.
OPEC oil price edges upwards to 77.59 dollars
See Also:
- JP Morgan: Global oil demand growth to be moderate in first half of 2012
- Iran to compete with Saudi Arabia for OPEC secretary general post
- Iran urges OPEC members not to aggravate oil embargo
- Analysts: Libyan oil production may reach 1.6 million bpd by second quarter of 2012
- OPEC Secretary General: any uncertainty in MENA region to have serious global impact
