The oil price of the Organization of the Petroleum Exporting Countries (OPEC) slid below the 75-dollar mark towards the end of the week, the group said Friday, as markets reacted to news about low US oil demand, DPA reported.
OPEC's basket price fell to 74.54 dollars per barrel (159 litres) on Thursday, down 0.76 dollars from the previous day.
The US Energy Department reported slowing demand for petrol and lower utilization of refineries earlier this week.