Kuwait oil price down by 73 cents to USD 47.83 pb

KUWAIT, April 28 (KUNA) -- The price of Kuwaiti oil was down by 73 cents to USD 47.83 per barrel Thursday after being at USD 48.56 pb the day before, said Kuwait Petroleum Corporation (KPC) Friday.
At the global level yesterday, the prices were down due the resumption operations at two major fields in Libya, the weak demand for gasoline, and increasing concerns over whether top oil producers could manage the surplus at the international market.
The price of the Brent crude went down by 14 cents to USD 51.68 pb as well as the American light crude also decreased by 37 cents to USD 49.25 pb. (end) osj.ha