OPEC crude price slides below $100

September 10th, 2008 - 7:34 pm ICT by IANS  

Vienna, Sep 10 (DPA) The price of crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) has plunged below $100 per barrel for the first time since late March, according to OPEC data released here Wednesday.On Tuesday, one barrel (159 litres) of OPEC-produced crude stood at $98.49, $2.59 less than the previous day’s $101.08.

OPEC’s latest price announcement came before its decision early Wedensday to cut overproduction.

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

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