Kuwait oil price up to USD 73.84 pb – KPC

The Kuwaiti oil price rose by 34 cents to USD 73.84 per barrel (pb) on Friday, compared to USD 73.50 a day earlier, according to the price announced by the Kuwait Petroleum Corporation (KPC) on Saturday. Internationally, Brent crude went up by 38 cents to settle at USD 71.89 pb, and West Texas Intermediate crude rose by 51 cents to USD 68.18 pb. Oil prices are most likely to close down this week as investors forecast higher supplies from Libya, oil exporting countries and the OPEC+ coalition. China's central bank on Friday cut its interest rates and injected liquidity into the country's banking system in a bid to pull economic growth back towards this year's roughly five percent target. Source: Kuwait News Agency