Mubasher: The price of Kuwait oil decreased by 40 cents on Friday, according to the Kuwait Petroleum Corporation (KPC).

The Kuwaiti crude registered $48.40 per barrel (pb) on Friday down from $48.80 pb on the day before, Kuwait News Agency (KUNA) reported.

Oil prices were stable in global markets amid anticipation for the commitment towards the OPEC agreement, with the increase in both American shale oil production and oil reserves also having an impact on prices, KUNA added.