Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) gained ground on Thursday after slipping by almost 3 dollars earlier this week, OPEC said on Friday.

One barrel (159 litres) of OPEC-produced crudes stood at 124.27 dollars on Thursday, compared with 123.05 dollars the previous day.

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