OPEC crude price up to 96.47 dollars

Business Materials 3 April 2008 15:32 (UTC +04:00)

(dpa) - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) increased again on Wednesday, OPEC said on Thursday.

One barrel (159 litres) of OPEC-produced crude stood at 96.47 dollars on Wednesday, up 72 cents from the previous day.

Crude futures remained bullish despite increasingly pessimistic economic forecasts for 2008. US Federal Reserve Chairman Ben Bernanke said the US economy was in for a recession in the first half of 2008, with the 2009 outlook still marred by uncertainty.

OPEC calculates an average basket price based on 13 important brands produced by cartel members.