Kuwait oil price up 47 cents to USD 47.76 pb

KUWAIT, March 29 (KUNA) -- The price of Kuwaiti oil was up by 47 cents to USD 47.76 per barrel Tuesday after being at USD 47.29 pb the day before, said Kuwait Petroleum Corporation (KPC) Wednesday.
At the global level, the prices were up due to severe shortage in Libyan supplies in addition to expectations that OPEC and major producers' intentions to extend their decision to lower production until the end of 2017.
The price of the Brent crude was up by 58 cents to USD 51.33 per barrel, the same case with the West Texas Crude, which went up by 64 cents to USD 48.37 pb. (end) osj.gta