LOC11:27
08:27 GMT
VIENNA, Sept 20 (KUNA) -- OPEC's daily basket price increased three cents to reach USD 53.81 per barrel Tuesday compared with USD 53.78 per barrel the previous day, the oil exporters group said.
In a statement, it added that the average basket price rate for August was USD 46.60 per barrel.
OPEC's Reference Basket of Crudes (ORB) is made up of Kuwait Export (Kuwait), Saharan Blend (Algeria), Iran Heavy (Iran), Basra Light (Iraq), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE), Merey (Venezuela), Girassol (Angola), and Oriente (Ecuador).
OPEC and several other oil exporters, including major producer Russia, extended an agreement to limit oil production by 1.8 million barrels per day until March 2018.
In its last meeting in July, a joint ministerial committee tasked with monitoring the agreement's implementation said there was 98 percent commitment amongst signatory nations. (end)
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