Slipping to 38.14 dollars on Wednesday, the price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) reached a new low for this year, figures released by the cartel showed Thursday, dpa reported.
One barrel (159 litres) of OPEC-produced crude fell by 1.75 dollars Wednesday, below the previous low of 39.34 on January 20.
OPEC calculates its basket price based on 12 brands produced by its members.
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