The oil price of the Organization of the Petroleum Exporting Countries (OPEC) dropped 0.85 dollars at the end of last week and slid below the 70-dollar mark, the group said Monday.

The cartel's basket price fell to 69.63 dollars per barrel on Friday, as the US administration reported a sharper-than expected drop in factory orders. (One barrel equals 159 litres.)OPEC's 12 members produce over a third of global oil supplies.

Source: Web