OPEC oil price rises, stops shy of 50 dollars

OPEC oil price rises, stops shy of 50 dollarsVienna - The price of oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose on Wednesday but failed to break the 50-dollar barrier, according to data released by the cartel on Thursday.

One barrel (158 litres) of OPEC crude stood at 49.98 dollars at mid-week, 1.28 dollars more than on Tuesday.

The Vienna-based group calculates an average price based on 12 brands produced by its members.

Business News: 
General: 
Regions: