Business News
OPEC oil price hits 2009 record
Dec 2, 2009, 8:28 GMT
Vienna - The oil price of the Organization of the Petroleum Exporting Countries (OPEC) rose to a record 77.88 dollars for 2009 on the first of the month, the group said Tuesday, as worries eased about state-owned Dubai World.
The cartel's basket price rose by 1.67 dollars per barrel (159 litres), in line with global stock markets buoyed by news that the indebted Dubai World holding group began restructuring talks.
OPEC's 12 member countries produce over a third of the world's crude oil.
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