Kuwait oil price up 21 cents to USD 62.82 pb

KUWAIT, Dec 5 (KUNA) -- The price of Kuwaiti oil went up by 21 cents to USD 62.82 per barrel Wednesday after being at USD 62.61 pb the day before, said the Kuwait Petroleum Corporation (KPC) Thursday.
At the global level, the price went up by three percent Wednesday boosted by expectation that OPEC and allies would continue to enforce the production reduction deal.
The increase was also attributed to US government data showing a huge drop in local crude supplies. The price of the Brent crude went up by USD 2.18 to USD 63. (end) km.gta