Kuwait oil price up USD 1.33 to USD 49.01 pb

KUWAIT, Dec 3 (KUNA) -- The price of Kuwaiti oil went up by USD 1.33 to USD 49.01 per barrel Friday after being at USD 47.68 pb the day before, said Kuwait Petroleum Corporation (KPC) Saturday.
At the global level, the oil price went up to its highest number in five years due to the OPEC announcement to reduce the organization's production by the beginning of next year.
The price of the Brent crude was up yesterday by 52 cents to USD 54.46 per barrel, the same case with the American crude which jumped by 62 cents to reach USD 51.68 pb. (end) osj.gta