Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped by 1.65 dollars Monday after the cartel deferred a decision on lowering production quotas at the weekend. 

One barrel (159 litres) of OPEC crude stood at 45.57 dollars Monday, the Vienna-based organization announced Tuesday. 

At a meeting in Cairo on Saturday, OPEC oil ministers indicated they might lower the cartel's oil output at a meeting in Algeria on December 17, in order to keep crude prices from falling. 

The Vienna-based organization calculates an average price based on 13 brands produced by its members. (dpa)