Yet another record price for OPEC crude

Business Materials 2 July 2008 15:53 (UTC +04:00)

The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) set yet another record slightly below 137 dollars on Tuesday, data released by OPEC on Wednesday showed.

One barrel (159 litres) of OPEC-produced crude stood at 136.94 dollars Tuesday, 0.91 dollars higher than 136.03 dollars on the previous day, reported dpa.

Since June 2, when OPEC crude cost 122.10 dollars per barrel, the price has increased by 14.84 dollars.

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