OPEC oil recovers to 101.63 dollars

The oil price of the Organization of the Petroleum Exporting Countries (OPEC) climbed back above the 100-dollar mark towards the end of the week, the group said Friday. OPEC''s basket price reached 101.63 dollars per barrel (159 litres) on Thursday, 1.73 dollars more than on the previous day. OPEC oil had reached its lowest level in more than seven months on Tuesday, when it slid below 99 dollars. Global oil prices have been burdened by concerns about the European debt crisis, but reports about new EU plans to tackle the banking crisis instilled optimism in markets on Thursday, analysts at JBC Energy said in Vienna.