Published On: Sat, Nov 29th, 2014

Kuwait crude oil price drops to USD 69.89 pb

Oil

Oil

Price of Kuwait crude oil per barrel dropped by USD 2.03 to stand at USD 69.89 pb in Thursday’s trading compared to USD 71.92 pb on Wednesday, Kuwait Petroleum Corporation (KPC) said on Friday.
Meanwhile, the OPEC announced in its daily bulletin Friday, that its crude basket price fell by USD 2.90 cents to USD 70.80 a barrel on Thursday, compared with USD 73.70 the previous day.
It estimated the monthly average price of OPEC basket price in October at USD 85.06 pb vis-أ -vis USD 95.98 pb in September. Meanwhile, the annual rate of the OPEC basket price hit USD 105.85 pb, the OPEC said.
In their regular semi-annual 166th meeting on Thursday, OPEC ministers decided to maintain the cartel’s production level at 30 million barrels per day.

Source : KUNA Kuwait News agency

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