Kuwait oil price up USD 1.03 to USD 49.93 pb

KUWAIT, May 20 (KUNA) -- The price of Kuwaiti oil was up USD 1.03 to USD 49.93 per barrel (pb) on Friday, after being at USD 48.90 pb last Thursday, said Kuwait Petroleum Corporation (KPC) Saturday.
In global markets, the prices were up on Friday as well due to growing expectations of extending the OPEC-non-OPEC production cut agreement during the upcoming OPEC meeting on May 25.
Meanwhile, the price of Brent crude was up USD 1.10 to USD 53.61 pb. (end) osj.hb