The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) jumped more than seven dollars at the end of last week, OPEC said on Monday.
One barrel (159 litres) of OPEC-produced crudes stood at 126.11 dollars a barrel on Friday, compared with 118.77 dollars the previous day, reported dpa.
On the New York stock exchange, oil prices surpassed the 139 dollar per barrel mark on Friday.
OPEC calculates an average basket price based on 13 important brands produced by cartel members.