The oil price of the Organization of the Petroleum Exporting Countries (OPEC) shed another 0.07 dollars on its downward slide at mid-week, the group announced Thursday, DPA reported.
OPEC's basket price stood at 71.87 dollars per barrel (159 litres) on Wednesday.
The cartel's 12 member countries supply over a third of the world's crude oil.
No recovery for OPEC oil price
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
