OPEC oil price inches below $37

December 23rd, 2008 - 6:51 pm ICT by IANS  

Vienna, Dec 23 (DPA) The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) slid to $36.92 Monday, just above this year’s record low price, which was set earlier this month, the oil cartel announced Tuesday.One barrel (159 litres) of OPEC-produced crude oil was down $0.80 Monday, from $37.72 at the end of last week, it said.

On Dec 5, the OPEC average price dropped to $36.67, the lowest since January 2005.

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