Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) hovered below 128 dollars a barrel Monday, data released by OPEC showed on Tuesday.

One barrel (159 litres) of OPEC-produced crude stood at 127.72 dollars, 0.21 dollars lower than 127.93 dollars on the previous day.

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