KUWAIT: The price of Kuwaiti oil went up by $2.40 to $74.30 per barrel Friday after being at $71.90 pb the day before, said the Kuwait Petroleum Corporation (KPC) yesterday. The price of the Brent crude saw an increase by $1.43 to $75.55 per barrel, while the West Texas Intermediate went up by $1.62 to $74.56 pb.
On Friday, OPEC said that its basket of crudes went down $1.61 in trading sessions to close at $71.97 per barrel (pb) on Thursday, compared to $73.58 the day before. Annual price of the OPEC basket in 2020 was at $41.47 pb. Last Monday, OPEC and non-OPEC Ministerial Meeting was called off to a later undetermined time reportedly due to disparities amongst members. – KUNA