Kuwaiti oil up 12 cents

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Kuwaiti oil barrel rose 12 cents on Thursday reaching $46.58 per barrel, compared to $46.46 pb on Wednesday, said Kuwait Petroleum Corporation (KPC) on Friday.

Producers are anxiously awaiting the upcoming meeting of OPEC next November, where member-states are expected to take decision on limiting production.

Meanwhile, Brent crude oil rose 65 cents or by 1.3 percent upon settlement, reaching $52.51 per barrel, while West Texas crude oil also rose 61 cents or by 1.2 percent reaching $50.44 pb.

Meanwhile, the OPEC daily basket price rose 10 cents on Thursday and stood at $47.84 a barrel compared with $47.74 pb the previous day, the organization said on Friday. (KUNA)

The yearly average of the OPEC basket price hit $49.49 pb, it said in a statement on Tuesday. (KUNA)

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