The price of Kuwaiti oil went up by 72 cents Wednesday to reach USD 43.72 per barrel as oppose to USD 43 per barrel Tuesday, said Kuwait Petroleum Corporation (KPC) Thursday.

    In the world market, OPEC's announcement that the organization might set a ceiling to its production managed to reduce the downward trend of the oil price, resulting in a slight retreat, according to (KUNA) news agency.

    The Brent mix went down yesterday by 17 cents to settle at USD 49.72 per barrel , the same case with the American crude which retreated by 9 cents to settle at USD 49.01 per barrel.