Kuwaiti Crude Oil Price Reaches 52.88 Dollars Per Barrel
August 4, 2005
Kuwaiti crude oil price reaches 52.88 dollars per barrel
KUWAIT CITY, Aug. 3 (Xinhua) — The price of Kuwait’s crude oil reached 52.88 US dollars per barrel (dpb) Tuesday, up 0.16 dollars from the day before, the Kuwait Petroleum Corporation (KPC) said Wednesday.
A KPC statement, carried by the official KUNA news agency, said Kuwaiti crude oil was sold at 52.72 dollars dpb on Monday, up 0.45 dollars from last Friday.
The price of Kuwait crude oil on last Friday was 52.27 dollars dpb, compared with 51.2 dollars dpb one day before.
Oil prices worldwide have been on the rise due to what the Organization of Petroleum Exporting Countries (OPEC) considered as lack of oil supply.