OPEC basket price jumps to USD 113.84 pb

VIENNA, March 22 (KUNA) -- The price for OPEC's daily basket of crude jumped by USD four and 72 cents to USD 113.84 per barrel (pb) on Tuesday, compared to USD 109.12 pb four days earlier, the cartel said.
The monthly average for the Organization of the Petroleum Exporting Countries' basket of crude last month was USD 85.41 last month, it said in a statement on Tuesday.
OPEC and its allies, a group known as OPEC+, agreed last month to proceed with a production hike of 400,000 barrels per day (bpd), keeping their current policy of slight monthly increases in output.
The OPEC+ alliance also agreed to follow up on the developments of the COVID-19 pandemic to monitor its repercussions on the market, making immediate adjustments if necessary. (end) amg.nam