Vienna  - The price for crude produced by the Organization of the Petroleum Exporting Countries (OPEC) continued its steep climb, hovering close to the 120-dollar mark, OPEC said on Tuesday.

One barrel (159 litres) of crude produced by OPEC member states stood at 119.71 dollars on Monday, compared with 119.13 dollars on Friday.

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