Vienna - The price for oil produced by the Organization of the
Petroleum Exporting Countries (OPEC) slid below the 40-dollar mark for
the second time this month on Thursday, despite the cartel's announced
production cut, OPEC said Friday.

The basket price for crude oil produced by OPEC stood at 39.48
dollars per barrel (159 litres) Thursday, 1.47 dollars less than on the
previous day, the Vienna-based organisation said.

OPEC's oil price fell in line with international crude prices. Oil
traded in New York dipped below 36 dollars for the first time since
July 2004 on Thursday.

The cartel decided to slash production by 2.2 million barrels per day on Wednesday in an effort to shore up prices. (dpa)