The oil price of the Organization of the Petroleum Exporting Countries (OPEC) gained 1.03 dollars towards the end of the week, the group announced Friday.
The price of OPEC-produced crude oil increased for the third day in a row, settling at 71.81 dollars per barrel (159 litres) on Thursday, DPA reported.
The Vienna based cartel of 12 countries produces over a third of the world's oil.
OPEC oil price adds another dollar
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
