The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell three dollars on Friday, OPEC said in a statement on Monday.
One barrel (159 litres) of OPEC-produced crude stood at 107.88 dollars Friday, compared with 110.88 dollars on the previous day, dpa reported.
OPEC calculates an average basket price based on 13 important brands produced by cartel members.