The oil price of the Organization of the Petroleum Exporting Countries (OPEC) retreated to 72.89 dollars at the end of last week, the group said Monday.
The cartel's average price inched downward by 0.37 dollars per barrel (159 litres) on Friday, DPA reported.
OPEC's 12 members produce over a third of the world's oil supply.
OPEC oil price eases to 72.89 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
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- JP Morgan: Global oil demand growth to be moderate in first half of 2012
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