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OPEC crude price slightly up towards end of the week

Sahil Nagpal 20 June 2008

Vienna - OPEC crude price slightly up towards end of the week The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose again slightly on Thursday, reverting a downward movement started at the end of last week, data released by OPEC on Friday show.

One barrel (159 litres) of OPEC-produced crude stood at 129.44 dollars a barrel on Thursday, 0.99 dollars higher compared with 128.45 dollars on the previous day.

Saudia Arabia, the world's largest oil exporter, has invited oil consumers and producers to a summit in Riyadh on Sunday to discuss the causes of spiralling oil prices.

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

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