The price of oil “basket” has reached a historical maximum
Дast week for the first time The price of OPEC’s oil “basket” has exceeded 84 doll./barr.
For the last week OPEC’s oil “basket” rose in price three times - on October 24th, 25th and 26the. Thus twice (on October, 25th and 26th) its price reached record values.
On October, 25th, the price of “basket” has again reached record mark in 82,67 doll./barr. and has for the first time has exceeded the price of 82 doll./barr..
Let’s note, that, in OPEC’s participants opinion, it is impossible to accuse them of rise in prices. It has been mentioned that oil is delivered on the market in sufficient volume and the West should not search guilty in OPEC.
Thus, going towards to requirements of the market, on September, 11th, 2007, OPEC has agreed upon increase in a quota of oil extracting at 500 thousand barr./day. The new price will come into force since November, 1st, 2007.
