Oil price rises above $46 for a barrel
The price for oil produced by the Organisation of the Petroleum Exporting Countries continued to rise, climbing to $46.27, the Vienna-based cartel announced.
By Agencies |
VIENNA: The price for oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) continued to rise on Tuesday, climbing to $46.27, the Vienna-based cartel announced on Wednesday.
One barrel (159 litres) of OPEC-produced oil rose by $2.41 from Monday.
OPEC's basket price moved upwards for the seventh day of trading in a row. It has gained $12.91 since Dec 24 of last year.
The current spat between Russia and the Ukraine over natural gas, which has affected European gas supplies, contributed to rising oil prices, Vienna-based analysts JBC Energy said.
One barrel (159 litres) of OPEC-produced oil rose by $2.41 from Monday.
OPEC's basket price moved upwards for the seventh day of trading in a row. It has gained $12.91 since Dec 24 of last year.
The current spat between Russia and the Ukraine over natural gas, which has affected European gas supplies, contributed to rising oil prices, Vienna-based analysts JBC Energy said.
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