Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped by another 2.21 dollars Thursday, the cartel said Friday.

One barrel (159 litres) of OPEC crude stood at 47.73 dollars, compared with 49.94 dollars on Wednesday.

The OPEC secretariat in Vienna on Friday did not confirm media reports that the group's oil ministers would meet November 29 in Cairo to discuss further production cuts to support prices.

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