Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) was pushed above 100 dollars again, following reports of an attack on an Iraqi oil pipeline, thereby increasing supply concerns. The OPEC secretariat in Vienna said on Friday that one barrel (159 litres) of crude stood at 100.36 dollars on Thursday, up 1.94 dollars from the previous day.
An attack on an oil pipeline in southern Iraq, followig a period of relative calm, caused Iraqi crude production to fall from approximately 1.5 million barrels per day to about 550,000 barrels within one day, but was up to normal standards later, Vienna-based JCB analysts said.
The cartel calculates an average basket price based on 13 important brands produced by OPEC member states.
