OPEC's average crude oil prices last week hit a record high of 66.20 dollars per barrel.
Iran is OPEC's No. 2 producer behind Saudi Arabia, with an output of 4 million bpd of oil, and a daily export figure of 2.4 million bpd.
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OPEC Average Price Dropped
The Organization of Petroleum Exporting Countries' average crude oil prices
The Organization of Petroleum Exporting Countries' average crude oil prices dropped slightly from a record high of $67 U.S. per barrel last Thursday to $66.84 per barrel by Friday.
The drop, the first decline following four consecutive days of record highs in the cartel's average crude prices, came as many arbitragers sold out shares for arbitrage, said oil marketing analysts in Vienna.
OPEC's average crude oil prices last week hit a record high of 66.20 dollars per barrel.
At an informal conference in Doha, Qatar, OPEC decided on Monday to continue its oil output quota of 28 million barrels per day (bpd).
Iran is OPEC's No. 2 producer behind Saudi Arabia, with an output of 4 million bpd of oil, and a daily export figure of 2.4 million bpd.
OPEC's average crude oil prices last week hit a record high of 66.20 dollars per barrel.
Iran is OPEC's No. 2 producer behind Saudi Arabia, with an output of 4 million bpd of oil, and a daily export figure of 2.4 million bpd.
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