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OPEC crude price weaker, but remains above 110 dollars

Mohit Joshi 28 April 2008

OPEC Vienna - The price for crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) was down slightly by the end of last week, OPEC said on Monday.

One barrel (159 litres) of crude oil from OPEC's 13-brand reference basket stood at 110.01 dollars on Friday, down 62 cents compared to the previous day.

OPEC, which is responsible for about 40 per cent of the world's crude production, calculates an average basket price based on 13 important brands produced by cartel members. (dpa)

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