Kuwait Oil Price Up 1.25 per barrel to USD 44.12
Kuwait Petroleum Corporation
Kuwait - QNA
The price of Kuwait oil went up by 1.25 to reach USD 44.12 per barrel Wednesday after being at USD 42.87 per barrel the day before, said Kuwait Petroleum Corporation (KPC) Thursday.
The rise of crude oil prices in world markets, significantly during Wednesday's trading, came following the US Energy Agency report that showed a larger-than-expected weekly drawdown in crude inventories, indicating high US demand.
American Petroleum Institute has published a drawdown, showing a sharp decline in US crude oil stockpiles for the week to 24 June - of 3.9 million barrels to reach 527.7 million barrels after US refineries increased production.
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