OPEC crude price down to 87 dollars

Business Materials 5 February 2008 14:37 (UTC +04:00)

( dpa ) - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued its downwards trend at the start of the week, the organization said Tuesday.

On Monday, one barrel ( 159 litres) of crudes from OPEC's reference basket of twelve important brands stood at 87.02 dollars, down 70 cents from Friday.

In a meeting on Friday, OPEC decided to leave output levels steady, despite US calls for a production increase.

OPEC's 13 members produce around 40 per cent of the world's crude.