Oil pumped by the Organization of the Petroleum Exporting Countries (OPEC) fell to 108.31 dollars at the end of last week, the group said Monday.
The price eased by 2.70 dollars per barrel (159 litres) on Friday, amid reports that Saudi Arabia was willing to compensate for the reduced output in Libya, DPA reported.
But analysts at JBC Energy in Vienna said markets had received new reason for higher prices at the weekend, with protests spreading from Libya to Oman and demonstrations continuing in Bahrain.