Kuwait crude price drops to USD 101.89 pb

Price of Kuwaiti crude oil dropped 88 cents to USD 101.89 per barrel on Monday compared to USD 102.77 pb last Friday, Kuwait Petroleum Corporation said in a statement on Tuesday. Oil prices continue to drop during the past four days, a day before European attempts to contain the eurozone debts, leading to the decline in demand for oil. The International Energy Agency IEA expects a decline in demand for oil in Europe during the first four months of 2012 by 2.8 percent, due to the eurozone debts and its effect on oil prices' stability and world demand. (end) mam.asa KUNA 201243 Dec 11NNNN