Vienna- The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose by 1.28 dollars Monday, after having dropped 5.48 dollars since last Wednesday.

One barrel (159 litres) of OPEC crude stood at 54.77 dollars Monday, compared with 53.49 dollars last Friday.

The oil cartel calculates an average basket price based on 13 brands produced by its members. (dpa)