The price of Kuwaiti oil went up by 6 cents to hit USD 43.62 per barrel Wednesday after being at USD 43.56 pb the day before, said Kuwait Petroleum Corporation (KPC) Thursday.

    At the global level, the price of oil went down due to reports on the increase of drilling rigs in the US and speculations over OPEC's intentions to lower production during the organization's meeting later this month, according to (KUNA) news agency.

    The price of the Brent crude was down 17 cents to USD 48.95 per barrel. The West Texas Intermediate was also down seven cents USD 47.96 pb.