The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) jumped by $2.22, the OPEC said Thursday.

On Wednesday, one barrel (159 litres) of crude from OPEC's 13-brand reference basket stood at $98.42, compared with $96.20 the previous day, the OPEC said.

The 13-member cartel produces about 40 percent of the global crude output.