Vienna - The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued to rise Friday, ahead of a meeting of the cartel on December 17, at which production cuts are expected to be discussed.

One barrel (159 litres) of OPEC-produced crude stood at 41.32 dollars Friday, 1.20 dollars higher than on the previous day, the Vienna-based organization announced Monday.

OPEC president Chakib Khelil last week called for a "drastic cut" of oil production, ahead of the meeting of oil ministers in Oran, Algeria on Wednesday.

Vienna - The price for crude oil produced by the Organization of the Pet

Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell by 1.13 dollars Monday, as the cartel made a further downward revision in its demand outlook for 2009.

One barrel (159 litres) of OPEC crude stood at 47.96 dollars, compared with 49.09 dollars last Friday, the Vienna-based organization said Tuesday.

In its latest monthly market report, OPEC forecast 86.68 million barrels per day of crude-oil demand for next year, 530,000 barrels per day less than predicted in October.

Vienna - The price fo

Vienna - The oil cartel OPEC said Friday th