Oil price to surpass $63

US: The price per barrel of oil remains above $63 following the decision by the Organization of Petroleum Exporting Countries (OPEC) to keep the current production levels.

In New York, oil contracts for July closed at $63.40 while in London, the North Sea Brent closed at $62.37 the barrel.

The price for a barrel of oil hit its record level in six months, climbing from the minimum $32.40 of December 2008 after Saudi Arabia Oil Minister Ali al-Naimi said in Vienna that prices could range from $75 to $80.

The OPEC decision is aimed at avoiding further production cuts that may affect the climbing price trend. New York, Prensa Latina