VIENNA – The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries rose to $46.02, the OPEC Secretariat said on Thursday.
OPEC said the price of its basket went up by 2.7 percent on Wednesday compared with the closing price at the previous session.
The rise makes up for part of the cumulative 6 percent drop over the past five days and comes after on Wednesday a reduction in the level of United States crude reserves, higher than expected by analysts, was announced.
The US Department of Energy reported that domestic crude oil reserves fell last week by 7.6 million barrels, more than double what was expected by analysts.
The September delivery of Brent crude opened at $47.60 per barrel at the start of Thursday’s trading on the futures market, a 0.29 percent decrease since the previous session’s close.