The price of Kuwaiti oil dropped 17 cents on Tuesday to reach USD 44.45 pb after being at USD 44.62 pb the day before, said Kuwait Petroleum Corporation (KPC) on Wednesday.

    Meanwhile, the Brent mix price went down by three cents to settle at USD 50.62 pb and the price for the American crude also went down by 52 cents to settle at USD 48.85, according to Kuwait News Agency (KUNA).

    Furthermore, the oil prices in international market went down because of UK planned referendum on withdrawing or staying within the EU, where most investors sold their stocks aiming to profit after the oil prices were up in the last couple of days.