The price for OPEC-produced oil fell slightly following a weekend conference of cartel members, reaching 43.05 dollars for one barrel (159 litres) of OPEC crude, the group announced Tuesday.
That is a price drop of 1.10 dollars per barrel from last Friday, reported dpa.
Meeting in Vienna on Sunday, oil ministers from OPEC nations decided not to sink production quotas for the time being.
The oil cartel calculates a basket price based on 12 brands produced by its members.