The price of Organization of Petroleum Exporting Countries crude oil shed 0.23 dollars mid-week to close in on the 75- dollar mark, according to data issued by OPEC on Thursday, DPA reported.
OPEC's basket price settled at 75.30 dollars per barrel (159 litres) on Wednesday, as China announced plans to curb credit growth, raising the prospect that economic growth could diminish.
The strengthening dollar put additional downward pressure on crude oil markets, analysts at JBC in Vienna said.
OPEC oil price crawls towards 75-dollar mark
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
