Vienna  - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued its downward movement Wednesday, settling slightly above 50 dollars, according to data released by the cartel Thursday.

One barrel (159 litres) of OPEC crude stood at 50.25 dollars Wednesday, compared with 50.96 dollars on the previous day.

OPEC calculates an average basket price based on 12 important brands produced by its members. dpa