Kuwait Oil Price up 69 cents to USD 45.10 pb

The price of Kuwaiti oil went up 69 cents to reach USD 45.10 per barrel (pb) on Tuesday as opposed to USD 44.41 pb this Monday, a statement by Kuwait Petroleum Corporation (KPC) said Wednesday.

    In world markets, prices hit its highest since the beginning of 2016 yesterday due to projections of decline in US reserve and fears of shortage in global supply after Nigerian output decreased as a result of attacks on oil sector in the African country, according to Kuwait News Agency (KUNA).

    Also yesterday, the Brent mix price went up 89 cents to USD 51.44 pb, so as did the American crude to reach USD 50.36 pb.