Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose by 0.50 dollars Thursday, as OPEC Secretary General Abdalla Salem el-Badri said the cartel might decide on further production cuts.

One barrel (159 litres) of OPEC crude stood at 41.21 dollars Thursday, the Vienna-based organization announced Friday.

OPEC would take action if prices stayed at their present low levels, el-Badri said at the World Economic Forum in Davos, Switzerland, on Thursday.

Reacting to slowing global demand and declining oil prices, the cartel decided in December to reduce its combined output by 2.2 million barrels per day.

The next meeting of OPEC oil ministers is scheduled for March 15 in Vienna.

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