OPEC crude price rises by 0.44 dollars

Business Materials 8 August 2008 13:07 (UTC +04:00)

The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose 0.44 dollars on Thursday, after dropping 7.84 dollars since the end of July, OPEC said in a statement on Friday.

One barrel (159 litres) of OPEC-produced crude stood at 115.08 dollars Thursday, compared with 114.64 dollars on the previous day, dpa reported.

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