Vienna - The oil cartel OPEC said Friday that the price of its oil fell by over 4 dollars per barrel on Thursday, slipping to the lowest level since early 2007.

The Vienna-based Organisation of Petroleum Exporting Countries said its basket of 13 crudes averaged 54.89 dollars per barrel, compared with Wednesday's 58.94 dollars.

Thursday's price was the lowest listing since late February 2007, OPEC said. (dpa)