Kuwait oil price climbs to USD27.72 per barrel


Kuwait’s oil price rose USD 2.2 per barrel to USD 27.72 per barrel on Thursday against USD 25.52 per barrel on Wednesday, Kuwait Petroleum Corporation, KPC, said on Friday.
According to Kuwait News Agency, KUNA, contracts of the Brent Blend, for the nearest delivery, fell 34 cents to USD33.94 pb, while the American
crude contracts dropped 29 cents to USD30.48 pb.
In general, oil prices climbed 14 percent over the past three days, after Saudi Arabia and Russia, backed by other producers, announced readiness to freeze the crude output at the January level.
US official statements showed that the American commercial crude reserves increased by 2.1 million barrels, last week, reaching 504.1 million barrels.

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