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Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued its record-breaking climb towards the end of the week, OPEC said on Friday.

One barrel (159 litres) of crudes from OPEC's reference basket stood at 116.93 dollars on Thursday, up 90 cents from the previous day.

On Thursday, OPEC Secretary General Abdalla Salam el-Badri said current high prices were not connected to market fundamentals, as markets remained well supplied.