Commodity Online
VIENNA: Organization of the Petroleum Exporting Countries (OPEC) on Wednesday said the price for crude oil produced by its member countries reached a new record low for this year.

In a statement issued here the oil cartel said, One barrel of its crude stood at $41.60 Tuesday, down $3.66 from previous days close.

Since the weekend, when OPEC oil ministers decided in Cairo to leave production levels unchanged for now, the organization's basket price has dropped by $5.62.