The oil price of the Organization of the Petroleum Exporting Countries (OPEC) fell for the tenth straight day of trading to 71.40 dollars on Thursday, according to data provided by the group on Friday.
The cartel's average price for one barrel (159 litres) of crude oil shed 0.47 dollars, DPA reported.
OPEC oil fell by 6.19 dollars in the last 10 trading days.
The organization's 12 member countries provide over a third of global oil supplies.
OPEC oil price falls for 10 days in a row
See Also:
- OPEC: World oil demand growth to be weaker than expected due to economic concerns
- IEA revises down forecast on global oil demand
- OPEC downgrades forecast for Kazakhstan's oil production
- OPEC expects Azerbaijan’s oil production at 0.99 mln bpd in 2012
- JP Morgan: Global oil demand growth to be moderate in first half of 2012
