LOC11:19
08:19 GMT
KUWAIT, Feb 25 (KUNA) -- The price of Kuwaiti oil barrel dropped 23 cents to reach USD 52.71 on Friday, compared to 52.94 per barrel last Thursday, said Kuwait Petroleum Corporation (KPC) on Saturday.
In international markets, oil prices dropped due to fears of an increase in US shale oil production, amidst an expansion of drilling operations for the sixth consecutive week.
Meanwhile, Brent crude oil lost 59 cents to reach USD 55.99 per barrel upon settlement, while West Texas crude lost 46 cents reaching USD 53.99 per barrel.(end)
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