Organization of the Petroleum Exporting Countries ( OPEC) said Monday that its basket price kept stable at 77.74 dollars at the end of last week, DPA reported.
OPEC's crude oil price shed 0.02 dollars per barrel (159 litres) on Friday, the cartel said ahead of a meeting of its oil ministers on Wednesday to discuss production levels.
Member countries have signalled that the group would keep its output ceiling unchanged, but might call for better adherence to that limit.
Most of the OPEC members are producing over their individual targets. Of the organization9s 12 countries, only Iraq is not included in the quota system.