The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell to 57.65 dollars Friday, the oil cartel said Monday.
One barrel (159 litres) of OPEC crude cost 2.27 dollars less on Friday than on Thursday, when it stood at 59.92 dollars, reported dpa.
The price of OPEC oil has fallen 60 per cent since the start of July, when it stood at 140.73 dollars.
OPEC calculates an average basket price based on 13 important brands produced by its members.