From correspondents in Vienna, Austria, 04:31 PM IST

The price for crude oil produced by the Organization of Petroleum Exporting Countries (OPEC) dropped by nearly four dollars Monday, the organisation said Tuesday.

One barrel (159 litres) of OPEC crude stood at $94.09 Monday, $3.81 lower than $97.90 last Friday.

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

(Staff Writer, © IANS)