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KUWAIT - JANUARY 15: The sun sets behind a oil derek January 15, 2003 near the Saudi Arabian border, Kuwait. Kuwait produces 10% of the worlds oil and has promised to increase production as needed in the event of a war in Iraq. (Photo by Joe Raedle/Getty Images). Image used for illustrative purpose.
KUWAIT: Kuwait oil price dropped by USD 1.14 to USD 74.73 per barrel in Wednesday's trading compared to Tuesday's rate of USD 75.87 pb, Kuwait Petroleum Corporation (KPC) said on Thursday.
In global markets, Brent crude futures moved up by 22 cents to USD 70.78 per barrel and the West Texas Intermediate oil climbed by 26 cents to reach USD 67.16 pb.
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