The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped by more than 3 dollars on Wednesday, OPEC said on Thursday, reported dpa.
One barrel (159 litres) of OPEC-produced crude stood at 118.56 dollars Tuesday, compared with 121.69 dollars on the previous day.
OPEC calculates an average basket price based on 13 important brands produced by cartel members.