Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued to fall on Friday, dipping below 128 dollars, OPEC said in a statement on Monday.

One barrel (159 litres) of OPEC-produced crude stood at 127.93 dollars on Friday, 3.10 dollars lower compared with 131.03 dollars on the previous day.

OPEC crude fell 11.92 dollars in the week since Friday July 11, when it stood at 139.85 dollars.

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