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Kuwait oil price up 87 cents to USD 70.71 pb

The price of Kuwaiti oil went up 87 cents to reach USD 70.71 per barrel (pb) Friday, after being at USD 69.84 pb the day before, said Kuwait Petroleum Corporation (KPC) Saturday.

On the global scale, oil prices rose yesterday due to a decrease in USD exchange rate and expectations of drop in Saudi crude exports.

The Brent crude had went up by 46 cents to settle at USD 73.07 pb, while the West Texas Intermediate was up by only one dollar to reach USD 70.46 pb.

Source: Kuwait News Agency