| After a slight drop over the previous week, the weekly average price of the Organization of Petroleum Exporting Countries (OPEC) rebounded again and reached a new record high of 119.79 U.S. dollars per barrel last week, showing the highest level since the last week of July 2008, the Vienna-based cartel said Monday.
Due to the recent weakness of the U.S. dollar and the effect of market speculation, OPEC oil price had once continuously increased and reached new records for four consecutive weeks since the September 2008..............................................Full Article: Source
|