OPEC oil price climbs to $40.50
By IANSFriday, February 27, 2009
VIENNA - The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose to $40.50 Wednesday, the Vienna-based organization announced Thursday.
One barrel (159 litres) of OPEC-produced crude oil gained $1.55 Wednesday.
OPEC calculates a basket price based on 12 brands produced by its members.
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