OPEC crude price drops more than 3 dollars

Business Materials 5 June 2008 13:55 (UTC +04:00)

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.