The price of Kuwait crude oil per barrel went down by 70 cents to stand at USD 80.56 pb on Tuesday compared to USD 81.26 the day before, said Kuwait Petroleum Corporation (KPC) here on Thursday.
Global oil prices have fallen recently due to inconsistenancy in supply and demand in the global oil market.
Another factor came in with the improvement in real estate sales in the US which led to the increase in the value for the dollar; however, that had the opposite effect on the global price of oil.