The price for crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) dropped more than $3 Tuesday, according to data released by OPEC Wednesday.

One barrel (159 litres) of OPEC-produced crude stood at $135.21. $3.23 lower compared with $138.44 on the previous day.

Crude oil fell more than $5 to $136.04 per barrel in New York Tuesday.

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