By DPA
Vienna : The price for one barrel of crude oil produced by members of the Organization of Petroleum Exporting Countries (OPEC) fell slightly to $86.57 at the end of the previous day’s trading, the OPEC Secretariat said Thursday.
Prices were down 27 cents compared with 86.84 dollars Tuesday, continuing a downward trend from earlier this week after peaking at $90.71 last week.
A barrel contains 159 litres.
Leading OPEC members plan to meet for a two-day summit in Riyadh starting from Nov 17, but output changes are not part of the meeting’s official agenda.
OPEC rejected calls for a production increase, arguing that more OPEC oil on the markets would not influence high oil prices.
OPEC calculates an average price derived from a reference basket of leading crudes produced by the cartel’s twelve members.