OPEC oil price drops by 2.03 dollars
The oil price of the Organization of the Petroleum Exporting Countries (OPEC) fell by 2.03 dollars towards the end of the week, the group said Friday.
OPEC-produced crude dropped to 70.48 dollars per barrel on Thursday amid reports on slowing industrial production in the United States and China. (One barrel equals 159 litres.)
The cartel's 12 members produce over a third of the world's oil supply, DPA reported.