OPEC oil price jumps to 73.05 dollars

The Organization of the Petroleum Exporting Countries (OPEC) said Wednesday that its basket oil price rebounded to 73.05 dollars on the previous day, as markets reacted to strong economic growth in the United States, DPA reported.

OPEC crude rose by 2.03 dollars per barrel (159 litres) on Tuesday.

Expectations about rising oil demand in the United States brightened after the latest official quarterly report showed Friday that the US economy grew at an annual rate of 5.7 per cent in the final three months of 2009. The US is the world's largest oil consumer.

OPEC's 12 member countries produce more than a third of the world's oil.