Vienna - The Organization of the Petroleum Exporting Countries said Friday that its oil price plummeted to 107.48 dollars the previous day, going below the 110-dollar mark for the first time in four weeks.
OPEC's basket price fell 3.07 dollars per barrel (159 litres) on Thursday, as global commodity markets were beset by a whole bundle of negative factors, including pessimism about US and Chinese economic growth, Europe's debt crisis and Saudi Arabia's increased oil output.
The downward trend is being exacerbated by the mathematical trading programmes that are in use, analysts at the consultancy JBC Energy said in Vienna.
