KUWAIT, 1st March, 2016 (WAM) — The price of Kuwaiti oil barrel dropped 47 cents reaching US$27.58 per barrel on Monday, compared to US$28.05 pb on Friday, as announced by Kuwait Petroleum Corporation, KPC, on Tuesday.

According to Kuwait News Agency, KUNA, oil prices rose by three percent in international markets yesterday, affected by China’s measures taken to improve its economy and the low production rate of crude oil at the Organisation of the Petroleum Exporting Countries and the US.

WAM/Esraa/Moran