Vienna - After dropping more than eight dollars this week, the price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) gained 1.19 dollars on Wednesday, OPEC said on Thursday.

One barrel (159 litres) of OPEC crude stood at 87.88 dollars Wednesday, up from 86.69 dollars on the previous day.

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