Vienna  - The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell by another 1.07 dollars Tuesday, the group announced Wednesday.

One barrel (159 litres) of OPEC-produced crude slid to 46.65 dollars Tuesday, after Monday's price drop had wiped out last week's gains.

The oil cartel calculates a basket price based on 12 brands produced by its members. (dpa)