OPEC crude price down from all-time highe

OPECVienna  - Crude prices eased on Thursday after reaching a new all-time-high above 111 dollars, the Organization of the Petroleum Exporting Countries (OPEC) said on Friday.

One barrel (159 litres) of crude produced by the 13-member cartel stood at 110.63 dollars on Thursday, down 51 cents from the previous day.

Prices were pushed up during the last days by the continued weakness of the US dollar and OPEC members maintaining their view that markets were well supplied and an increase in production quotas was not necessary.

OPEC's Vienna-based secretariat calculates an average basket price based on 13 important brands produced by its member states. (dpa)

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