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OPEC crude price inches downwards

Business Materials 16 January 2008 13:06 (UTC +04:00)

( dpa ) - The price for oil produced by the Organization of Petroleum Exporting Countries (OPEC) moved down slightly, OPEC said on Wednesday.

According to calculations by the OPEC Secretariat, one barrel ( 159 litres) stood at 88.49 dollars on Tuesday, down 13 cents from 88.62 dollars on Monday.

OPEC calculates an average basket price of twelve important brands produced by cartel members.

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