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FinancialNews
08-03-20
Price of Kuwaiti oil decreases by USD 2.26
(MENAFN) According to Kuwait Petroleum Corporation (KPC), in comparison with USD 52.08 pb on Thursday, Kuwaiti oil prices decreased by USD2.26 to USD49.82 on Friday.
On Friday, international oil costs dropped as main oil producers are unable to convince Russia to make extra supply cuts in order to make up for declining demand over coronavirus outbreak worldwide.
The West Texas Intermediate contracts dropped by USD 4.26 to USD 41.22 pb and the Brent crude prices fell to USD 45.
Coronavirus (COVID-19) had affected the international economy in a way that made investors sell high-risk assets.
MENAFN0803202000450000ID1099818767
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