OPEC meeting ended without any deal on Thursday. OPEC members seemed to be content with the current price level. Oil prices rose in the recent weeks due to the oil supply disruptions and falling output in the U.S.

"The market is moving through the balancing process," OPEC said in its statement.

News reported earlier that according to several OPEC sources, OPEC members planned to introduce a new collective ceiling to avoid market-share battle.