Vienna - Falling by 1.76 dollars on Friday, the price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) has dropped by a total of 3.23 dollars since the cartel decided on Wednesday to throttle production.

One barrel (159 litres) of OPEC-produced crude oil stood at 37.72 dollars Friday, the Vienna-based organisation said Monday.

OPEC calculates an average basket price based on 13 important brands produced by its members. dpa