Vienna - Falling by 0.46 dollars on Thursday, the basket price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued to hover above 40 dollars.

One barrel (159 litres) of OPEC-produced crude stood at 40.85 dollars Thursday, the Vienna-based cartel announced Friday.

In its latest outlook report, OPEC said global oil demand would fall by 180,000 barrels per day in 2009. That is an additional decrease of 30,000 barrels per day, compared with the previous forecast in last December.

Production projections were also lowered. The report said output from non-OPEC producers would grow by 580,000 barrels per day in 2009, down 70,000 barrels per day from the last forecast.

OPEC produces around 36 per cent of the world's oil supplies. (dpa)