Kuwait – Mubasher: Kuwait oil price went down by 99 cents to $40.3 per barrel on Monday, compared with $41.02pb last Friday, according to the Kuwait Petroleum Corporation.

In global markets, the oil price also went down due to indications that major exporters would not reach a consensus on setting an output ceiling during next week, in addition to reports stating that US would record highest rise in a number of drilling rigs since the collapse of crude oil prices 2 years ago.

Meanwhile, price of Brent Blend moved up upon settlement $1.46 to $47.35bp. West Texas Crude oil also rose $1.45 to $45.93pb.