LOC09:04
06:04 GMT
Kuwait oil price
KUWAIT, Aug 4 (KUNA) -- Kuwait oil price went down by USD 2.07 cents to USD 48.35 per barrel on Monday from USD 50.42 pb the day before, Kuwait Petroleum Corporation (KPC) said on Tuesday.
The price of oil continued to go down due to worries over the increase of supplies over demand. OPEC's production for July also reached record high in surplus.
Meanwhile, American crude went down by USD 0.36 percent to reach USD 46.76 pb after being at a record low USD 46.35 pb four months ago. (end)
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