OPEC crude price inches upwards

Business 15 January 2008 14:54 (UTC+04:00)

( dpa ) - The price for crude oil produced by the Organization of Petroleum Exporting Countries (OPEC) increased slightly at the start of the week.

According to calculations by the OPEC Secretariat in Vienna, one barrel ( 159 litres) of crude produced by cartel members stood at 88.62 dollars on Monday, compared with 88.50 dollars on Friday.

OPEC calculates an average basked price based on twelve important brands produced by OPEC member states.

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