The oil price of the Organization of the Petroleum Exporting Countries (OPEC) recovered further to 74.33 dollars at mid-week, according to data published by the cartel on Thursday.
OPEC's basket price rose by another 1.27 dollars per barrel (159 litres) on Wednesday, coming close to recouping the 6-dollar fall that the price took earlier this month, DPA reported.
The Vienna-based organization produces over 30 per cent of the world's oil.
OPEC oil price recovers to 74.33 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
