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The price of OPEC basket of thirteen crudes rose at $56.80 a barrel on Wednesday, compared with $55.13 the previous day, according to OPEC Secretariat calculations.
Experts said OPEC rising prices are affected by Brent and US crude oil which also rose today hitting their highest in about a year in the previous session, supported by an unexpected draw in U.S. crude stockpiles and an OPEC+ estimate of a global oil market deficit this year.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
