Kuwaiti oil price down $1.27 to $44.91 pb

The price of Kuwaiti oil was down by $1.27 to $44.91 per barrel (pb) on Monday as oppose to $46.18 pb on Friday, said the Kuwait Petroleum Corporation (KPC) yesterday. Globally, the prices were up during Monday’s trading after Saudi Arabia, the biggest oil producer in OPEC, pledged to lower it exports for the sake of finding a balance between supplies and demands.