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OPEC crude price inches upwards towards 119 dollars mark
Vienna Published in Saudi Press Agency on 16 - 05 - 2008


The price for crude oil produced by the
Organization of the Petroleum Exporting Countries (OPEC) climbed 18
cents on Thursday, OPEC said Friday, according to DPA.
One barrel (159 litres) of crudes from OPEC's reference basket
stood at 118.95 dollars on Thursday, compared with 118.78 dollars the
previous day.
In its latest monthly oil market report, released on Thursday,
OPEC revised its 2008 demand growth forecast down by 40,000 barrels
per day to 1.16 million barrels per day.
The 13-member cartes is responsible for about 40 per cent of the
global crude output.

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