Kuwait oil price rose 51 cents reaching USD 40.54 per barrel on Tuesday against USD 40.03 pb the day before, Kuwait Petroleum Corporation (KPC) said early on Wednesday.

In international markets, the oil prices dropped, on Tuesday, amid fading hopes OPEC producers, during their informal sessions in Algiers, would reach an understanding to tackle the markets' glut.

Meanwhile, the Brent Blend dropped USD 1.38 settling at USD 45.97 pb and the West Texas crude oil also decreased by USD 1.29 pb to settle at USD 44.67 pb.

Source : QNA