OPEC oil price jumps to $50 a barrel
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OPEC oil price jumps to $50 a barrel

Jumping by nearly three dollars, the price for oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) ended the day at $50 a barrel on Thursday, the cartel announced.

business Updated: Apr 03, 2009 15:17 IST
DPA

Jumping by nearly three dollars, the price for oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) ended the day at $50 a barrel on Thursday, the cartel announced on Friday.

The basket price for one barrel (about 159 litres) of OPEC crude rose by $2.82, from $47.18 on the previous day.

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

First Published: Apr 03, 2009 15:15 IST