The oil price of the Organization of the Petroleum Exporting Countries (OPEC) gained 0.59 dollars early in the week and inched further towards the 80-dollar level, the group announced Tuesday, dpa reported.
The cartel's basket price settled at 77.86 dollars per barrel (159 litres) of crude oil on Monday.
The 12 countries of OPEC produce some 34 per cent of global oil supplies.
OPEC oil prices rises towards 80-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
