The price of Organization of the Petroleum Exporting Countries (OPEC) daily basket price rose by 1.06 dollars to 62.94 dollars a barrel on Wednesday.
The price of OPEC basket of fifteen crudes was at 61.88 dollars on the previous trade day, according to OPEC Secretariat calculations.
The OPEC Reference Basket of Crudes (ORB) is made up of the following:
Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). - Istanbul