Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) retreated to 38.95 dollars on Tuesday, after having risen above 39.50 dollars in the previous three days of trading.

One barrel (159 litres) of OPEC crude fell by 0.58 dollars Tuesday, the Vienna-based cartel announced Wednesday.

OPEC's basket price has stood below 40 dollars since January 17. (dpa)