Kuwait oil price falls to $46.53 pb
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.