OPEC daily basket price went up by USD 1.69 to USD 68.13 a barrel on Tuesday compared to USD 70.80 the previous day, the cartel said here on Wednesday.
The annual rate of the OPEC crude basket hit USD 105.85 a barrel, it said.
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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 (Venez).
During their recent meeting, OPEC oil ministers decided to maintain the cartel's production level at 30 million barrels per day.