The oil price of the Organization of the Petroleum Exporting Countries (OPEC) regained some ground and climbed to 68.21 dollars at mid-week, the group said Thursday.
The cartel's basket price rebounded by 1.37 dollars per barrel (159 litres) on Wednesday, after having shed nearly the same amount the day before, DPA reported.
OPEC's 12 member countries produce 34 per cent of global oil supplies.
OPEC oil rebounds to 68.21 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
