OPEC crude price lowest in 14 weeks

 Vienna, Feb 11: The weekly Reference Basket Price of the Organization of Petroleum Exporting Countries (OPEC) crude hit the lowest level in the past 14 weeks, the Vienna-based cartel said.

The weekly Basket price of the OPEC crude stood at $103.10 per barrel last week, a drop from $104.68 per barrel the previous week, hitting the lowest level of the past 14 weeks, reported Xinhua.

It was the also the second consecutive week of price declining.

OPEC maintained the organization’s crude oil output target at 30 million barrels per day to ensure a relatively comfortable price, after the meeting in its headquarters here early December.