OPEC crude price falls from all-time-high

Business Materials 22 February 2008 13:18 (UTC +04:00)

(dpa) - The price for oil produced by the Organization of Petroleum Exporting Countries (OPEC) dropped from its previous record high on Thursday, falling to 93.97 dollars, OPEC said on Friday.

According to the OPEC Secretariat, one barrel (159 litres) of OPEC-produced crude stood at 93.97 dollars on Thursday, down 26 cents compared to the previous day.

Crude prices were pressured by slumping US economic indicators and rising crude and gasoline stocks in the United States, analysts said.