Kuwait oil price falls

Price of Kuwait crude oil dropped 55 cents to $32.40 per barrel in Thursday’s trades against $32.95 pb on Wednesday, Kuwait Petroleum Corporation said on Friday.

In international markets, oil prices decreased on Friday due to the US dollar recovery after falling in previous sessions, in addition to decline of the American crude output by 52,000 barrel per day reaching 9.1 million pbd in January.

In March, the crude oil prices rose to the highest level since middle of the past year. American contracts also climbed 14 percent in March and four percent in Q1 2016.

Contracts of the Brent Blend posted the best performance since April 2015, rising by six percent in the Q1 2016. (KUNA)