OPEC oil price plunges by more than $3.50

December 3rd, 2008 - 7:25 pm ICT by IANS  

Vienna, Dec 3 (DPA) The price for crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) Tuesday fell by $3.66, making a new record low for this year, the Vienna-based cartel announced Wednesday.One barrel (159 litres) of OPEC crude stood at $41.60 Tuesday.

Since the weekend, when OPEC oil ministers decided in Cairo to leave production levels unchanged for now, the organisation’s basket price has dropped by $5.62.

OPEC has revised its Monday price downward to $45.26, from $45.57 stated previously.

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