Vienna - The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) hit its lowest point for four years, the organization's secretariat in Vienna reported Wednesday.

One barrel (159 litres) of OPEC-produced crude oil stood at 34.49 dollars on Tuesday, down from 36.92 dollars at the start of the week, the cartel said.

The price was the lowest since December 2004. (dpa)