The Organization of the Petroleum Exporting Countries (OPEC) said Wednesday that its oil price slipped by 0.39 dollars the previous day, breaking its steady rise since the middle of the month, DPA reported.
OPEC's basket price settled lower at 75.75 dollars per barrel (159 litres) on Tuesday, as a US consumer confidence index tumbled to a 10-month low.
The oil cartel's 12 member countries supply over 30 per cent of the world's crude oil.
OPEC oil price sheds 0.39 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
