Kuwaiti oil price down 80 cents to USD 22.70 pb

KUWAIT, Feb 12 (KUNA) -- The price of Kuwaiti oil went down 80 cents Thursday to settle at USD 22.70 per barrel after being at USD 23.50 the day before, said Kuwait Petroleum Corporation (KPC) Friday.
At the global level, the price of oil went up by five percent after news began to circulate on OPEC's intention to hold talks on curbing supplies with other oil exporters.
Meanwhile, the price of the Brent mix was up USD 1.37 to reach USD 31.43 per barrel, a similar case for the West Texas Intermediate crude price which went up USD 1.21 to reach USD 27.42 pb. (end) ht.gta