price

Oil prices have risen to more than $80 a barrel as ministers from the world's 12 largest petroleum-producing countries meet in Vienna.

They climbed to over $82 a barrel on New York’s Mercantile Exchange(NYMEX) while London’s Brent Crude rose to over $80 a barrel ahead of the meeting of the Organisation of Petroleum Exporting Countries (OPEC).

Oil prices have fluctuated between $70 and $80 a barrel for the last nine months as global economies struggle to recover from the economic downturn.