The crude oil price of the Organization of Petroleum Exporting Countries...
The crude oil price of the Organization of Petroleum Exporting Countries (OPEC) set a new record Tuesday, data released by the Vienna-based cartel showed Wednesday.
One barrel of OPEC-produced crude stood at 131.25 U.S. dollars Tuesday, 0.55 dollars higher than the previous day.
The last record, 130.87 dpb, was set on June 9.
A global meeting on oil prices in the Saudi port city of Jeddah failed to curb the soaring prices Sunday.
The promise by Saudi Arabia to increase output by 200,000 dpb has had almost no impact on the market.
The one-day meeting also revealed opinion differences among OPEC member countries over the assessment of the international oil market as well as measures to stabilize oil prices.
The weak dollar, speculations and geopolitical crises are still pushing oil prices higher and the outlook remains grim, experts said.
