Kuwaiti Oil Price Drops by $1.13

Kuwait, The price of Kuwaiti oil went down by $1.13 to $51.85 per barrel Tuesday as oppose to Monday's USD 52.98 per barrel, Kuwait Petroleum Corporation (KPC) Wednesday said.

At the global market, the price went down due to the increase in US fuel reserves and the thriving of Shale oil production in America, Kuwait News Agency (KUNA) reported.

Brent Crude went down by 67 cents to USD 55.05 per barrel, the same case with the American crude, which went down 84 cents to USD 52.17 per barrel.

Source: Qatar News Agency