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Kuwait oil price drops USD 1.49 to USD 64.17 pb - KPC

Kuwait oil price drops to USD 64.17 pb
Kuwait oil price drops to USD 64.17 pb
KUWAIT, Jan 24 (KUNA) -- The price of Kuwaiti oil went down USD 1.49 to reach USD 64.17 per barrel (pb) Thursday, compared with USD 65.66 pb the day before, said the Kuwait Petroleum Corporation (KPC) on Friday.
At the global level, oil prices decreased more than two percent as the expectations of the International Energy Agency (IEA) have cast a market glut and demand fears amid a virus outbreak in china.
The price of the Brent crude went down USD 1.17, or 1.9 percent, to USD 62.04 pb, the same case with the West Texas Intermediate, which went down USD 1.15, or two percent, to reach USD 55.59 pb. (end) km.sam