KUWAIT, The price of Kuwait oil went down 78 cents to USD 80.48 pb on Wednesday as opposed to USD 81.26 pb last Tuesday, said Kuwait Petroleum Corporation (KPC) on Thursday.
Globally, the price of Brent crude futures contracts went down 93 cents to USD 79.76 pb, as did the West Texas Intermediate; down by USD 1.37 to USD 76.98 pb.
US crude inventories rose by 1.4 million barrels, compared with estimates for a 2.2 million barrel drop, data from the US Energy Information Administration showed.
Meanwhile, the International Energy Agency (IEA) monthly report trimmed its estimate of global oil demand growth for 2025, noting the impact of weak Chinese consumption on global economic growth.
Source : Kuwait News Agency