Mubasher: The price of Kuwaiti oil increased by 17 cents on Friday, according to the Kuwait Petroleum Corporation (KPC).

Kuwaiti crude oil registered $44.27 per barrel (pb) yesterday compared to $44.10 pb on Thursday, Kuwait News Agency (KUNA) reported.

Oil prices continued with its upwards trend on the global level due to the rise in the number of American drilling rigs and statistics showing a growing Chinese demand for oil.

The price of the Brent crude was up by 50 cents to $47.92 pb, and similarly, the West Texas Intermediate (WTI) Increased by $1.11 to $46.04 pb.