Opec Oil Price Jumps By Over 2 Dollars

Vienna- The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) jumped by 2.

18 dollars Thursday, as the cartel's president Chakib Khelil called for a "drastic" cut of oil production at its upcoming meeting.

One barrel (159 litres) of OPEC-produced crude stood at 40.

12 dollars Thursday, the Vienna-based organization said Friday.

Oil prices were also boosted by the news that Saudi Arabia was producing several hundreds of thousands of barrels per day of crude less than estimated, Vienna-based consultants JBC Energy said.