Kuwaiti oil price down 1 cent to USD 46.34 pb

KUWAIT, June 6 (KUNA) -- The price of Kuwaiti oil was down by one cent to settle at USD 46.34 per barrel Monday after it was at USD 46.35 pb last Friday, said the Kuwait Petroleum Corporation (KPC) Tuesday.
At the global level, the price was down due to fears generating from Saudi Arabia severing ties with Qatar.
The incident will have an impact on the OPEC's deal to lower production due to Saudi Arabia being one of the world major producers.
The price of the Brent crude was down by 48 cents to USD 49.47 per barrel, the same case with the West Texas Intermediate, which went down by 26 cents to USD 47.40 pb. (end) osj.gta