Vienna: The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell to $44.06 Thursday, the first time it went below $45 since May 2005.

One barrel (159 litres) of OPEC crude cost $1.83 less Thursday than on the previous day, the Vienna-based cartel said Friday.

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

 

Source : IANS