Oil produced by the Organization of the Petroleum Exporting Countries (OPEC) inched downwards to 71.55 dollars at the end of last week, the group announced Monday.
OPEC's basket price shed 0.26 dollars per barrel (159 litres) on Friday, DPA reported.
The cartel's 12 member countries produce over a third of global oil supplies.
OPEC oil price eases to 71.55 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
