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Thursday , October 17 2019

Kuwait oil price up to $38.65

Kuwait oil price went up $2.25 on Thursday reaching $38.65 per barrel against $36.40 pb on Wednesday, Kuwait Petroleum Corporation (KPC) said on Friday. In international markets, Brent Blend went down $1.27 settling at $44. 53 pb, whereas US crude oil also plunged $1.00, settling at $43.18 pb.

Meanwhile, the OPEC daily basket price stood at $40.11 a barrel on Thursday, compared with $38.46 Wednesday, the organization announced on Friday. The annual average of the OPEC basket price hit $49.64 pb, it said in a press release.

The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). (KUNA)

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