The US benchmark, West Texas Intermediate, for January was at $68.76 a barrel, showing a drop of 97 cents from its settle price on Thursday.
The OPEC decision not to slash output also pushed the shares in Asian energy stocks to tumble and caused the Russian money, ruble, to weaken 2.7 percent versus the dollar.
Venezuelan President Nicolas Maduro says Caracas will keep seeking a cut in oil production until prices rebound to $100 per barrel.
He said that Venezuela, which sits on the world's largest crude reserves, considers $100 a barrel a fair price for oil.
OPEC was under pressure from some of its members, notably Venezuela and Ecuador, to cut output to reduce supplies and push prices back up. However, the call was rejected by Persian Gulf members, including Saudi Arabia.
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