Home Economy OPEC crude price falls to $57.65

OPEC crude price falls to $57.65

By DPA,

Vienna : The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell to $57.65 Friday, the oil cartel said Monday.

One barrel (159 litres) of OPEC crude cost $2.27 less on Friday than on Thursday, when it stood at $59.92.

The price of OPEC oil has fallen 60 percent since the start of July, when it stood at $140.73.

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