Kuwait Oil Price Up 25 Cents to USD 43.86 pb

The price of Kuwaiti oil went up Wednesday by 25 cents to USD 43.86 per barrel as oppose as to USD 43.61 pb the day before, said Kuwait Petroleum Corporation (KPC) Thursday.

    The price of oil in the world markets went down after US energy reports showed an unexpected increase in crude reserves in the US, the world largest consumer of oil, according to (KUNA) news agency. This led to an increase of supplies by 2.5 million barrels in contracts with expectations of a decrease by 500,000 barrels. 

    The Brent crude price was down by 91 cents to USD 49.05 per barrel, the same occurred with the American crude which went down by USD 1.33 to USD 46.77 per barrel.