Kuwait oil price up 94 cents to $49.54pb

Kuwait Times - - BUSINESS -

The price of Kuwaiti oil was up 94 cents to $49.54 per bar­rel on Fri­day af­ter be­ing at $48.60 pb the day be­fore, said Kuwait Petroleum Cor­po­ra­tion yes­ter­day. At the global level, the price of oil was up by one per­cent on hopes that the Saturday meet­ing for OPEC coun­tries and non-mem­ber states in Vi­enna would fi­nal­ize an agree­ment on re­duc­ing pro­duc­tion by the be­gin­ning of 2017. The price of the Brent crude was up by 44 cents to $54.33 per bar­rel, the same case with the price of the Amer­i­can crude which was up by 66 cents to $51.50 pb. —KUNA

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