Kuwait oil up to $26.96 pb

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Bahrain seeks to raise tourism revenues to 3.2 pct of GDP by ‘18 The price of Kuwaiti oil went up Thursday by $1. 01 to reach $26.96 per barrel as oppose to the price on Wednesday which was at $25.95 pb, said Kuwait Petroleum Corporation (KPC) Friday. In the global market, the oil price for future contracts went up by three percent after news came out regarding a meeting next March amongst major oil producers.

The meeting will focus on bringing back the price to its normal level. The contracts for the Brent mix went up by 88 cents to $35.29 per barrel, the same case with the American crude which was up by 92 cents to $33.07 pb. Meanwhile, OPEC daily basket price rose on Thursday 89 cents and stood at $29.19 a barrel compared with $28.30 pb the previous day, said a statement by the organization Friday. (KUNA)

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