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OPEC crude price cracks 105 dollars

Mohit Joshi 16 April 2008

Vienna - The price for crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) continued its record- breaking rise on Tuesday, OPEC said on Wednesday.

One barrel (159 litres) of crude produced by the cartel's 13 member states stood at 105.73 dollars on Tuesday, up 1.71 dollars from the previous day, reaching a new all-time high.

In its monthly forecast released on Tuesday OPEC left its prediction for 2008 crude demand growth stable. OPEC predicted a global growth increase by 1.2 million barrel per day to 87 million barrels.

OPEC followed global bullish trends, as oil prices reached new records. Nymex WTI closed at 113.79 dollars, Brent at 111.58 dollars on Tuesday. (dpa)

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