The price for oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) fell by another $1.07 on Tuesday, the group announced on Wednesday.
One barrel (159 litres) of OPEC-produced crude slid to $46.65 on Tuesday, after Monday's price drop had wiped out last week's gains.
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The oil cartel calculates a basket price based on 12 brands produced by its members.
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