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Kuwait oil price down 74 cents to USD 27.90 pb
December 22, 2015, 10:54 am

The price of Kuwait oil went down 74 cents to USD 27.90 per barrel Monday, a decrease from USD 28.64 pb last Friday, said Kuwait Petroleum Corporation (KPC) Tuesday.

In the world markets, the price of oil is dropping due to the increase of supplies over demands and with more barrels poised to enter the market from nations such as Iran and Libya. Brent crude oil prices hit their lowest in more than 11 years.

Brent crude was down 53 cents, or 1.44 percent, to USD 36.35 a barrel while West Texas Intermediate fell one cent, or 0.03 percent, to end at USD 34.74 a barrel

Source: KUNA

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