The Organization of the Petroleum Exporting Countries (OPEC) said Wednesday that its oil price shed 2.48 dollar the previous day and edged below 110 dollars, DPA reported.
OPEC's basket price settled at 109.55 dollars per barrel (159 litres) on Tuesday.
The price fell amid reports that the cartel's member states are mulling an increase of production, in reaction to decreased flows from Libya.