OPEC crude price plummets four dollars

Business Materials 26 August 2008 14:04 (UTC +04:00)

The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped by more than four dollars on Monday, OPEC said on Tuesday.

One barrel (159 litres) of OPEC-produced crude stood at 110.61 dollars Monday, down 4.02 dollars from 114.63 dollars last Friday.

OPEC calculates an average basket price based on 13 important brands produced by cartel members, reported dpa.