Kuwait oil price down 21 cents to USD 54.86 pb - KPC

KUWAIT, Feb 12 (KUNA) -- Kuwait crude oil price went down by USD 21 cents to settle at USD 54.86 pb Tuesday compared to USD 55.07 pb the day before, Kuwait Petroleum Corporation (KPC) said on Wednesday.
In the global markets, the American energy department cut international demand projections this year by 310,000 bpd, driven by decline in crude oil consumption in China, the world's second largest economy, in the wake of the Coronavirus outbreak. (end) km.nhq