Kuwaiti Oil Barrel Up 93 Cents, Reaches USD 46.46 pb

Kuwait, – Kuwaiti oil barrel rose 93 cents on Wednesday reaching USD 46.46 per barrel, compared to USD 45.53 pb on Tuesday, said Kuwait Petroleum Corporation (KPC) on Thursday.

Prices rose in international markets yesterday due to an unexpected drop in US crude reserves by three million barrel last week, according to Kuwait News Agency (KUNA).

Producers are anxiously awaiting the upcoming meeting of OPEC next November, where member-states are expected to take decision on limiting production.

Meanwhile, Brent crude oil rose 99 cents upon settlement, reaching USD 51.86 per barrel, while West Texas crude oil rose USD 1.14 reaching USD 49.83 pb.

Source: Qatar News Agency