Error message

Deprecated function: Creation of dynamic property MergeQuery::$condition is deprecated in MergeQuery->__construct() (line 1357 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).

OPEC crude prices drop to 138 dollars

Mohit Joshi 16 July 2008

OPEC Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell on Tuesday, according to OPEC data, as the latest outlook for the United States indicated a worsening of the economic situation.

One barrel (159 litres) of OPEC-produced crude stood at 138 dollars Tuesday, down 1.81 dollars compared with 139.81 dollars on the previous day, OPEC said Wednesday.

On Tuesday, Ben Bernanke, the head of the US Federal Reserve, said factors such as rising energy prices and a further contraction of housing markets represented "significant downside risks to the outlook for growth."

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

Business News:

World Economy

Regions:

Vienna