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OPEC crude price hovers above 120 dollar mark

Sahil Nagpal 5 August 2008

ViennaOPEC - The price for crude oil produced by the Organization of Petroleum Exporting Countries (OPEC) declined slightly on Monday, according to data released by OPEC on Tuesday.

One barrel (159 litres) of OPEC-produced crude stood at 120.80 dollars Monday, 28 cents lower than the 121.08 dollars recorded the previous day.

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

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