OPEC crude price slides to $111.27

August 12th, 2008 - 3:59 pm ICT by IANS  

Vienna, Aug 12 (DPA) The price for crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) fell by more than one dollar Monday, OPEC said in a statement Tuesday. One barrel (159 litres) of OPEC-produced crude stood at $111.27 Monday, down $1.46 from $112.73 on the previous day.

OPEC calculates an average basket price based on 13 important brands produced by cartel members.

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