Driven by the British Petroleum's decision to cease one of its oil fields in Alaska, the average crude oil price of the Organization of Petroleum Exporting Countries hit a new record on Monday.
The OPEC's average crude oil price reached 72.12 U.S. dollars per barrel on Monday, the cartel's secretariat said on Tuesday.
Although OPEC has expressed its worries about the BP's decision, the oil cartel showed its confidence to offset the supply drop in international market.
However, an Iranian official with OPEC said on Tuesday that OPEC could not offset the drop, stressing BP's decision was a miserable event at a bad time.
Market analysts ascribed the soar of oil prices recently to the Iranian nuclear issue, the tension in the Middle East and BP' decision.
572
OPEC Average Crude Cost Over $72
Although OPEC has expressed its worries about the BP's decision