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OPEC crude price rises by more than 2 dollars
Saudi Press Agency Published in Saudi Press Agency on 30 - 10 - 2008


The price for crude oil produced by the
Organization of the Petroleum Exporting Countries (OPEC) rose by
2.23 dollars Wednesday, as the weaker dollar buoyed oil markets,
according to data released by OPEC on Thursday.
One barrel (159 litres) of OPEC crude stood at 58.13 dollars on
Wednesday, up from 55.90 dollars on the previous day, reported dpa.
The oil price rebounded as interest-rate cuts in the United
States and China on Wednesday led to a depreciation of the dollar,
Vienna-based analysts JBC Energy said.
OPEC calculates an average basket price based on 13 important
brands produced by its members.

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