Vienna  - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) inched upwards towards the 110-dollar-mark on Wednesday, according to data issued by OPEC on Thursday.

One barrel (159 litres) of OPEC-produced crude stood at 109.77 dollars Wednesday, 1.51 dollars higher than 108.26 dollars on the previous day.

OPEC calculates an average basket price based on 13 important brands produced by cartel members. (dpa)