Mubasher: Kuwait oil prices dropped by 73 cents to $51.44 per barrel (pb) on Wednesday, compared to $52.17 pb in the previous session, according to the Kuwait Petroleum Corporation (KPC).
Oil prices surged to their highest level in two weeks on Wednesday after US Nymex went up 2.5%.
Higher oil prices were backed by a report signaling Saudi Arabia’s reduction of oil exports by as much as half a million barrels per day (bpd) to 7.253 million bpd in December, data compiled by Bloomberg showed.
