The oil price of the Organization of the Petroleum Exporting Countries (OPEC) has dropped below 100 dollars a barrel for the first time since October, according to data released on Monday.
OPEC's basket price fell to 97.44 dollars per barrel on Friday,
3.62 dollars less than on the previous day.
The crisis in the eurozone as well as disappointing economic
trends in the United States and China have been signalling lower
global demand for oil, analysts at JBC Energy said in Vienna.
The drop may put pressure on OPEC's 12 member countries to reduce
their production to prevent a further slide, experts at Commerzbank
said in Frankfurt.
OPEC oil ministers are scheduled to discuss output levels at a
regular meeting Vienna on June 14.
