KUWAIT: Kuwait oil price dropped $1.06 to $46.56 per barrel in Monday’s trades from $47.62 pb on Friday, according to Kuwait Petroleum Corporation (KPC). In international oil markets, crude prices fell on Monday by five percent amid reports stating that OPEC continued hiking output after traders generated profits, following last week’s prices’ rise-the highest since 11 weeks ago. Brent crudes dropped $2.79 reaching $49.86 pb. The American crude also went down by $2.53, settling at $47.10 pb.
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