Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) inched down by another 0.71 dollars Monday, after having lost over 5.5 dollars at the end of last week.

One barrel (159 litres) of OPEC crude stood at 71.96 dollars Monday, compared with 72.67 dollars last Friday, OPEC said Tuesday.

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