VIENNA – The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries sank to $45.78, the OPEC Secretariat said on Friday.
OPEC said the price of its basket decreased by 2.0 percent on Thursday compared with the closing price at the previous session.
OPEC crude has lost 10.6 percent since May 25, when its 14 member countries and 10 other large producers extended their reduction policy for nine months, but without expanding the amount of oil withdrawn from the markets.
With its current price, OPEC crude is only one dollar above the level on Nov. 30, when producers decided for the first time to cut extraction to stabilize and boost prices.
The August delivery of Brent crude opened at $47.86 per barrel at the start of Friday’s trading on the futures market, a 1.13 percent decrease since the previous session’s close.