The price of Dubai crude oil has fallen to some 85 U.S. dollars a barrel.
The Korea National Oil Corporation (KNOC) said that the spot price of Dubai crude oil traded on Friday dropped 4.13 dollars to 85.41 dollars a barrel.
On the New York Mercantile Exchange, West Texas Intermediate lost nine cents to 93.88 dollars. The price of Brent North Sea crude fell 31 cents to 90.25 dollars.
The KNOC attributed the overall weak oil prices to a U.S. economic slump, plus expectations for a cut in oil demand.
