VIENNA -- The daily average oil prices of the Organization of Petroleum Exporting Countries (OPEC) jumped back to 111.6 U.S. dollars per barrel (dpb) Monday, the Vienna-based cartel said Tuesday.
The prices soared 4.61 U.S. dollars from the last trading day and closed only 0.06 dollars lower than the historic high set on April 28.
Experts said the drop in prices last week was only due to profit taking in the international market, adding that prices would continue to rise in the short term.
Meanwhile, Susilo Bambang Yudhoyono, president of OPEC member Indonesia, said Tuesday that his government was considering quitting the cartel as the country had become an oil importer.
He said at the opening of the National Development Planning Congress in Jakarta that Indonesia's short-term plan is to "increase domestic oil production".
The daily average prices of OPEC set a record of 111.66 dpb last Monday and kept dropping in the next three days. The prices once touched 105.99 dpb Thursday and slightly rebounded to 106.99 dpb Friday.
The prices soared 4.61 U.S. dollars from the last trading day and closed only 0.06 dollars lower than the historic high set on April 28.
Experts said the drop in prices last week was only due to profit taking in the international market, adding that prices would continue to rise in the short term.
Meanwhile, Susilo Bambang Yudhoyono, president of OPEC member Indonesia, said Tuesday that his government was considering quitting the cartel as the country had become an oil importer.
He said at the opening of the National Development Planning Congress in Jakarta that Indonesia's short-term plan is to "increase domestic oil production".
The daily average prices of OPEC set a record of 111.66 dpb last Monday and kept dropping in the next three days. The prices once touched 105.99 dpb Thursday and slightly rebounded to 106.99 dpb Friday.
