The oil price of the Organization of the Petroleum Exporting Countries (OPEC) rose above 74 dollars at mid-week, the group said Thursday, DPA reported.
By adding 0.89 dollars per barrel (159 litres) to 74.15 dollars on Wednesday, OPEC's basket price recovered further from its lowest level for this year on May 25, when it had fallen beneath 67 dollars.
The cartel's 12 members produce over a third of global oil supplies.
OPEC oil price climbs above 74 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
