Kuwaiti crude oil price rises 8 cents to USD 28.62 pb

KUWAIT, Dec 31 (KUNA) -- Price of Kuwaiti crude oil moved up eight cents on Wednesday reaching USD 28.62 per barrel in contrast to USD 28.54 pb on Tuesday, said Kuwait Oil Corporation (KPC) on Thursday.
In world markets, the forwards oil prices moved down, more than three percent on Wednesday, after unexpected rise of American crude reserves, amid indications major producers planned further pumping of the oil into markets despite prevailing glut.
Brent Blend dropped USD 1.33 to settle at USD 36.46 pb, followed by the American crude which moved down USD 1.27, settling at USD 36.60 pb. (end) osj.rk