The Organization of the Petroleum Exporting Countries (OPEC) said Wednesday that its oil price rose to 69.76 dollar on the previous day, regaining some ground after a steep drop in the past days, DPA reported.
OPEC's basket price settled 0.90 dollars higher on Tuesday. The price had plummeted by more than 6 dollars since the middle of last week.
The Vienna-based group produces over a third of the world's crude oil.
OPEC oil price inches back up to 69.76 dollars
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
