Kuwait oil price falls to $46.53 pb

Kuwait Times - - BUSINESS -

Price of the Kuwaiti oil dropped 59 cents to $46.53 per bar­rel in Fri­day’s trades against $47.16 pb on Thurs­day, Kuwait Pe­tro­leum Cor­po­ra­tion (KPC) said yes­ter­day.

In global markets, the crude oil rate also climbed due to a forecast agree­ment be­tween the Or­ga­ni­za­tion of Pe­tro­leum Ex­port­ing Coun­tries (OPEC) and the ma­jor non-OPEC oil pro­ducer Rus­sia, next week, on ei­ther main­tain­ing the oil price or slash­ing it. Mean­while, the Brent Blend crude rose upon set­tle­ment on Fri­day by 40 cents reach­ing $51.78 pb.

The US West Texas crude also moved up by 22 cents to $50.85 pb.

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