Kuwait oil price falls to USD 26.33 pb

KUWAIT, Jan 7 (KUNA) -- Price of Kuwaiti oil went down USD 1.23 to USD 26.33 per barrel Wednesday as opposed to USD 27.67 pb on Tuesday, said Kuwait Oil Corporation (KPC) on Thursday.
In the world market, the crude price went down, Wednesday, six percent, due to rise of US crude reserves' rise -- higher than forecast -- and issuance of weak economic reports from China, the world's second leading crude consumer, thus fueling concerns the market glut will persist.
Meanwhile, price of the Brent Blend dropped USD 2.19 settling at USD 34.23 per barrel. The American crude oil also fell, USD two, settling at USD 33.97 pb. (end) osj.rk