The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 104.85 U.S dollars per barrel as at Monday, Aug. 29.
This is compared with 103.89 U.S. dollars per barrel of the previous Friday, according to OPEC Secretariat calculations as released by OPEC on Tuesday.
The OPEC Reference Basket of Crudes (ORB) is made up of the Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy and (Islamic Republic of Iran).
Others are Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).