Vienna- The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped by 5.57 dollars last Friday, as financial markets plunged across the globe.

One barrel (159 litres) of OPEC crude stood at 72.67 dollars Friday, down from 78.24 dollars on the previous day, OPEC said Monday.

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