KUWAIT, 4th March, 2016 (WAM) — The price of Kuwaiti oil went down Thursday seven cents to settle at USD29.45 per barrel compared to USD29.52 pb the day before, said Kuwait Petroleum Corporation Friday.

According to Kuwait News Agency, KUNA, the price of future contracts went up during Friday’s trading due to news regarding the decrease in American production of oil, a step that might lead to the recovery of the price.

The price of the future contracts for the Brent mix went up 21 cents to reach USD37.28 per barrel, the same case for the future contracts of American crude which went up 20 cents to reach USD34.77 pb.

WAM/Esraa