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OPEC crude price rises ahead of expected production cut
Vienna Published in Saudi Press Agency on 21 - 10 - 2008


The price for crude oil produced by the
Organization of the Petroleum Exporting Countries (OPEC) continued to
rise Monday, as the cartel is expected to cut production at its
meeting on Friday, REPORTED DPA.
One barrel (159 litres) of OPEC crude stood at 64.63 dollars
Monday, 1.71 dollars higher compared with 62.92 dollars last Friday.
OPEC President and Algerian Energy Minister Chakib Khelil said
Saturday that the group could cut output by up to 2 million barrels
per day at its Vienna meeting.
OPEC calculates an average basket price based on 13 important
brands produced by cartel members.

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