Oil prices settled lower on Wednesday after data showed rising oil exports by the Organization of the Petroleum Exporting Countries (OPEC).

Oil exports by the OPEC climbed for a second month in June, Thomson Reuters Oil Research data showed on Wednesday.

OPEC exported 25.92 million barrels per day in June, up 450,000 barrels per day from May and 1.9 million barrels per day more than a year earlier, according to the data.

A stronger U.S. dollar also weighed on green-back denominated oil, making it more expensive for buyers in other currencies.

The dollar traded higher against most major currencies on Wednesday, after the Federal Reserve released minutes from June meeting.

The dollar index, which measures the greenback against six major peers, increased 0.14 percent at 96.348 in late trading.

The West Texas Intermediate for August Delivery lost 1.94 dollars to settle at 45.13 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery decreased 1.82 dollars to close at 47.79 dollars a barrel on the London ICE Futures Exchange.