Kuwaiti oil price up 91 cents to USD 48.67 pb

KUWAIT, March 30 (KUNA) -- The price of Kuwaiti oil was up by 91 cents to USD 48.67 per barrel Wednesday after being at USD 47.76 pb Tuesday, said Kuwait Petroleum Corporation (KPC) Thursday.
At the global level, the price went up due to a lack of Libyan oil supplies as well as expectations that OPEC and other major partners will continue their decision to lower production.
The lesser-than-expected growth in American crude reserves also played a role in the increase.
The price of the Brent crude was up by USD 1.09 to reach USD 52.42 per barrel, the same case with the West Texas Intermediate, which went up by USD 1.14 to USD 49.51 pb. (end) osj.gta