Home
OPEC crude price close to $117
Europe News.Net
Friday 9th May, 2008 (IANS)
The price for crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) continued its record-breaking climb towards the end of the week, OPEC said Friday.
One barrel (159 litres) of crudes from OPEC's reference basket stood at $116.93 Thursday, up 90 cents from the previous day.
On Thursday, OPEC Secretary General Abdalla Salam el-Badri said current high prices were not connected to market fundamentals, as markets remained well supplied.
OPEC's Vienna-based secretariat calculates an average basket price based on 13 important brands produced by its member states. The 13-member cartel currently produces about 32 million barrels per day, which is 40 percent of global crude output.
 Email this story to a friend
Have your say on this story
|
 |
 |
- Religare, two other Indian companies vying for London stockbrokers
London, May 17 (IANS) Three Indian companies, including Religare, are bidding to acquire city stockbrokers Arden Partners, the Financial Times reported. [read story]
- Britain slammed for demanding repayment of climate aid
London, May 17 (IANS) Almost all of the 800 million pounds ($1.6 billion) offered by Britain to help developing countries cope with the effects of climate change will have to paid back with interest, a newspaper reported Saturday. The revelation drew criticism from developing country diplomats and NGOs. [read story]
- Kate Hudson dating Lance Armstrong?
Melbourne, May 17 : Kate Hudson reportedly has a new leading man in her life - Tour de France legend Lance Armstrong. [read story]
- EU-Latin America summit voices concern over food prices
Lima, May 17 (DPA) The European Union-Latin America-Caribbean (EU-LAC)summit stressed in its final declaration in Lima that participants were 'deeply concerned by the impact of increased food prices', specifically citing troubled Haiti as an example. [read story]
- Lynch to make horror film based on Greek tragedy
London, May 17 (IANS) Filmmaker David Lynch is all set to make a new horror movie based on a Greek tragedy. [read story]
|
|
 |
 |
|
|
