The oil price of the Organization of the Petroleum Exporting Countries (OPEC) slid to 70.01 dollars at the end of last week, the group announced Monday, DPA reported.
The cartel's basket price moved down 0.39 dollars per barrel (159 litres) on Friday.
OPEC crude averaged 76.01 dollars in January, 2 dollars less than in the previous month.
The Vienna-based organization supplies more than a third of the world's oil.
OPEC oil price falls to 70.01 dollars
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
