Commodity Online
VIENNA : Organization of the Petroleum Exporting Countries (OPEC) on Wednesday said the price of its basket crude inched towards the $70 mark Tuesday.

In a statement issued here the Vienna based oil cartel said the basket price stood at $69.83 per barrel Tuesday, up $0.40 from the previous day.

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The group's 12 member countries pump more than a third of the world's crude oil supply.