Kuwait oil price down 24 cents to USD 52.53 pb

KUWAIT, Feb 23 (KUNA) -- The price of Kuwaiti oil went down by 24 cents to USD 52.53 per barrel Wednesday as oppose to USD 52.77 pb the day before, said Kuwait Petroleum Corporation (KPC) Thursday.
Globally, the prices went down due to forecasts predicting an increase in US oil reserves despite OPEC's efforts to monitor its output reduction.
The Brent crude was down by 82 cents to USD 55.84 per barrel, the same case with the West Texas Intermediate that went down by 74 cents to USD 53.59. pb (end) osj.gta