Kuwait oil price up 18 cents to USD 72.33 pb

The price of Kuwait oil went up by 18 cents to USD 72.32 per barrel Wednesday after being at USD 72.15 per barrel last Tuesday, said the Kuwait Petroleum Corporation (KPC) Thursday.

At the global level, the price fell on Wednesday due to concern over world supplies after a sudden rise in US crude stocks, as well as Saudi Arabia and other key producers hinting an increase in output.

The price of the Brent crude went down by two cents to USD 26.26 per barrel, while the price of the West Texas Intermediate went up by 79 cents to USD 64.73 pb.

Source: Kuwait News Agency