The oil price of the Organization of the Petroleum Exporting Countries (OPEC) rose above 74 dollars at mid-week, the group said Thursday, DPA reported.
By adding 0.89 dollars per barrel (159 litres) to 74.15 dollars on Wednesday, OPEC's basket price recovered further from its lowest level for this year on May 25, when it had fallen beneath 67 dollars.
The cartel's 12 members produce over a third of global oil supplies.