VIENNA – The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries rose to $51.88, the OPEC Secretariat said on Thursday.
OPEC said the price of its basket went up by 2 percent on Wednesday compared with the closing price at the previous session.
The barrel of OPEC black gold thus reaches its highest price since late May after having increased by $2.5, or 5 percent, over the last four days of trading.
The average September price is $50.61 per barrel so far, a dollar more than the August average.
The November delivery of Brent crude opened at $54.04 per barrel at the start of Thursday’s trading on the futures market, a 0.31 percent decrease since the previous session’s close.