The Kuwaiti oil price went up by eight cents to USD 74.30 per barrel (pb) on Friday, compared to USD 74.22 pb the previous day, Kuwait Petroleum Corporation (KPC) said on Saturday.
Globally, the price of Brent crude decreased by USD 1.39 to USD 73.06 per barrel, while the West Texas Intermediate crude also went down by USD 1.45 to USD 69.22 pb.
The decline of both crudes was driven by weaker demand forecasts from OPEC and the IEA, slowing economic growth in China and signs of easing geopolitical tensions in the Middle East.
Source: Kuwait News Agency