(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Sept 12 (KUNA) -- The price of Kuwaiti oil barrel dropped 82 cents to reach USD 50.56 per barrel (pb) on Monday, compared to USD 51.38 pb last Friday, said Kuwait Petroleum Corporation on Tuesday.
In international markets, oil prices went up as main US refineries resumed work after the recent hurricane, increasing demand on crude oil. The prices were also affected by reports on the possibility of extending OPEC's agreement on controlling oil output beyond March 2018, announced after last Sunday's meeting between Saudi, Venezuelan and Kazakh oil ministers.
Meanwhile, Brent crude oil went up six cents to reach USD 53.84 pb, while West Texas crude rose 59 cents to reach USD 48.07. (end) osj.ag
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