The oil price of the Organization of the Petroleum Exporting Countries (OPEC) decreased by 1.21 dollars on Tuesday, the Vienna-based group announced Wednesday, DPA reported.
Crude oil produced by OPEC stood at 79.08 dollars per barrel (159 liters) on Tuesday.
The cartel's 12 member countries produce more than a third of the world's crude oil.
OPEC oil price sheds 1.21 dollars
See Also:
- JP Morgan: Global oil demand growth to be moderate in first half of 2012
- Iran to compete with Saudi Arabia for OPEC secretary general post
- Iran urges OPEC members not to aggravate oil embargo
- Analysts: Libyan oil production may reach 1.6 million bpd by second quarter of 2012
- OPEC Secretary General: any uncertainty in MENA region to have serious global impact
