The price of Kuwaiti oil went down by 69 cents to USD 49.40 per barrel Wednesday after being at USD 50.09 pb the day before, said Kuwait Petroleum Corporation (KPC) Thursday.

    At the global level, the price of oil was up due to the increase in the rate of exchange for the US Dollar as well as news of Saudi Arabia's decision to decrease its Asian exports.

    The Brent crude price was up by USD 1.46 to USD 55.10 per barrel, the same case with the West Texas Intermediate which went up by USD 1.43 to USD 52.25 pb.