Vienna: The price for crudes produced by the Organisation of the Petroleum Exporting Countries (OPEC) continued its record-breaking rise, OPEC said on Wednesday.

One barrel (159 litres) of crude produced by the cartel's 13 member states stood at $105.73 on Tuesday, up $1.71 from the previous day, reaching a new all-time high.

In its monthly forecast released Tuesday OPEC left its prediction for 2008 crude demand growth stable. OPEC predicted a global increase by 1.2 million barrel per day to 87 million barrels.

OPEC followed global bullish trends, as oil prices reached new records. New York Mercantile Index closed at $113.79 and Brent at $111.58 on Tuesday.

Source : DPA