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Kuwait oil price stable at USD 49.27 pb

KUWAIT, April 1 (KUNA) -- The price of Kuwaiti oil was stable at USD 49.27 per barrel Friday, the same price from the day before, said the Kuwait Petroleum Corporation (KPC) Saturday.
The price globally was down due the hike in production of American Shale oil, which came as a direct result of the increase in drilling rigs in the US.
The Brent crude was down by 13 cents to USD 52.83 per barrels while the American crude went up by 25 cents to USD 50.60 pb. (end) osj.gta