OPEC crude price hovers at high level

Business Materials 13 June 2008 13:03 (UTC +04:00)

The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued to hover slightly below the 130-dollar mark, figures released by OPEC on Friday showed.

One barrel (159 litres) of OPEC-produced crude stood at 129.77 dollars Thursday, up 0.88 dollars from 128.89 dollars the previous day, reported dpa.

On Monday, the price of OPEC stood at a record-setting 130.87 dollars.

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