(dpa) - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped slightly from its 95.20-dollar all-time high on Thursday, OPEC said Friday.
On Thursday, one barrel (159 litres) of crude from OPEC's reference basket of 12 important brands stood at 94.99 dollars, down 21 cents from the previous day.
In view of the high oil prices, a decision on an output cut at OPEC's upcoming March 5 meeting, as demanded by some cartel members like Iran seems more unlikely.
Japan urged OPEC, which supplies about 40 per cent of the world's crude, to increase production.