KUWAIT, June 16 (KUNA) -- The price of Kuwaiti oil went down by USD 1.01 to USD 43.16 per barrel Thursday after being at USD 44.17 pb the day before, said Kuwait Petroleum Corporation (KPC) Friday.
At the global level, the price went down due to the increase in crude production in Nigeria, Libya, and the US, leading to a fear of a surplus at the world markets.
The price of the Brent crude went down by eight cents to USD 46.92 pb, the same case with the American crude which went down by 27 cents to USD 44.46 pb. (end) gta