The oil price of the Organization of the Petroleum Exporting Countries (OPEC) fell to 76.56 dollars at the end of last week, the Vienna-based group announced Monday, DPA reported.
The price for one barrel (159 litres) of OPEC-produced crude oil fell by 1.03 dollars on Friday, and by 3.38 dollars over the course of the week.
The US consumer confidence index calculated by the University of Michigan remained below economists' expectations on Friday. Rising US oil stocks had weighed on oil prices earlier in the week.
OPEC oil price slips below 77 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
