Vienna  - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) remained stable, hovering just below 119 dollars, OPEC said on Thursday.

One barrel (159 litres) of crude produced by OPEC's 13 member states stood at 118.78 dollars on Wednesday, compared with 118.76 dollars the previous day.

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