The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 123.21 dollars per barrel Thursday.
This is compared to 121.54 dollars per barrel recorded on Wednesday.
This is according to the OPEC Secretariat calculations obtained by the News Agency of Nigeria (NAN) on Friday in Abuja.
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) and Iran Heavy (Islamic Republic of Iran).
Others are Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).