Correction: Austria-OPEC story

AP News
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Posted: Jun 18, 2012 10:21 AM
Correction: Austria-OPEC story

In a story June 15 about the price of oil, The Associated Press erroneously quoted OPEC Secretary General Abdullah Al-Badry as saying that oil prices could rise about $25 from their present levels to $110 a barrel without threatening the world economy. In fact, Al-Badry only said prices could rise to $110 a barrel without threatening the world economy.

The AP figure of $25 was inaccurate because it was based on the price of U.S. benchmark crude and not the Brent crude oil that Al-Badry says he was referring to, which has recently been close to $100 a barrel.