(dpa) - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) is continuing its climb to new record-highs, the cartel said Thursday.
The OPEC secretariat said one barrel of OPEC's basket of major brands stood at 101.38 dollars on Wednesday, up 0.81 dollars from the previous day.
The 13-member cartel produces about 40 per cent of the world's crude supply. The ongoing rises follow on last week's decision by the cartel not to boost production levels.