OPEC crude price falls from all time high

February 22nd, 2008 - 7:36 pm ICT by admin  

Vienna, Feb 22 (DPA) The price for oil produced by the Organization of Petroleum Exporting Countries (OPEC) dropped from its previous record high Thursday, falling to $93.97, OPEC said Friday. According to the OPEC secretariat, one barrel (159 litres) of OPEC-produced crude stood at $93.97 dollars Thursday, down 26 cents compared to the previous day.

Crude prices were pressured by slumping US economic indicators and rising crude and gasoline stocks in the US, analysts said.

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