Vienna - The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell by 0.25 dollars and slipped below 38 dollars again on Wednesday.

One barrel (159 litres) of OPEC-produced crude stood at 37.94 dollars Wednesday, compared with 38.19 dollars on the previous day, the Vienna-based cartel announced Thursday.

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