Kuwaiti oil price up $2.02 to $67.71

  • Jul 12, 2019
  • Emirates News Agency

KUWAIT, 12th July, 2019 (WAM) -- The price of Kuwaiti crude oil went up by US$2.02 to settle at US$67.71 per barrel Thursday, compared to US$65.69 pb the day before, said the Kuwait Petroleum Corporation Friday.

According to the Kuwait News Agency, KUNA, in world markets, oil prices fell yesterday after OPEC cut its forecast for crude demand for next year, revealed in a monthly report that the world will need 29.27 million barrels per day of crude from its 14 members next year, down by 1.34 million barrels per day this year.

KUNA added that Brent Blend crude went down by 49 cents to reach US$66.52 pb, and the West Texas Intermediate went down by 23 cents to settle at US$60.20 pb.