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OPEC crude price drops more than $3

According to data released by the OPEC, the price for crude oil produced by the OPEC dropped more than $3 on Tuesday and stood at $135.21.

business Updated: Jul 09, 2008 16:19 IST
DPA

The price for crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) dropped more than $3 on Tuesday, according to data released by OPEC on Wednesday.

One barrel (159 litres) of OPEC-produced crude stood at $135.21 - $3.23 lower compared with $138.44 on the previous day.

Crude oil fell more than $5 to $136.04 per barrel in New York on Tuesday.

OPEC calculates an average basket price based on 13 important brands produced by cartel members.