VIENNA, Nov. 19 (Xinhua) -- After a five-week continuous rise, the weekly average oil prices of the Organization of Petroleum Exporting Countries (OPEC) dropped to 87.35 U.S. dollars per barrel last week, 2.33 dollars lower than the previous week, the cartel said Monday.
OPEC's weekly average oil prices jumped 13.89 dollars over the last five weeks, rising from 75.79 dollars per barrel in the second week of October to the historical high of 89.68 dollars per barrel in early November.
OPEC's monthly average oil prices in November, up to Nov. 19, reached 88.36 dollars per barrel, 9 dollars and 14.18 dollars higher than the average prices in October and September respectively.
The daily average oil prices of OPEC dropped from 88.80 to 86.57 dollars per barrel over the first three trading days, before they began to rebound Thursday, reaching 87.54 dollars per barrel last Friday.
The drop in OPEC's oil prices early last week could be attributed to the information in the oil market about the cartel's possible output increase.
However, the cold weather in northeast of the United States and an OPEC senior officer's denial over the output increase later last week resulted in the price rebound.
OPEC's weekly average oil prices jumped 13.89 dollars over the last five weeks, rising from 75.79 dollars per barrel in the second week of October to the historical high of 89.68 dollars per barrel in early November.
OPEC's monthly average oil prices in November, up to Nov. 19, reached 88.36 dollars per barrel, 9 dollars and 14.18 dollars higher than the average prices in October and September respectively.
The daily average oil prices of OPEC dropped from 88.80 to 86.57 dollars per barrel over the first three trading days, before they began to rebound Thursday, reaching 87.54 dollars per barrel last Friday.
The drop in OPEC's oil prices early last week could be attributed to the information in the oil market about the cartel's possible output increase.
However, the cold weather in northeast of the United States and an OPEC senior officer's denial over the output increase later last week resulted in the price rebound.
