Kuwaiti oil barrel price rises 25 %
Kuwait, May 04: Kuwait Petroleum Corporation said that the price of the Kuwaiti barrel of crude oil recorded a rise of 25 cents yesterday to settle at USD 83.69 per barrel (pb) in comparison to those of last Friday.
Reports attribute this rise to the continuing revival of the US economy, and Washington’s announcement that its oil exports from the Gulf of Mexico are threatened due to the strong winds approaching the area, which could affect the production of wells on the shores of Louisiana.