The price of Kuwaiti oil went down 31 cents Monday to settle at USD 43.87 per barrel as opposed to USD 44.18 pb last Friday, said Kuwait Petroleum Corporation (KPC) Tuesday.

    The price of oil in the world markets went down in fear of production inflation in the Middle East and the hike in the USD exchange rate backed by anticipations over an in crease of the interest rate in the US by the end of the year, according to Kuwait news agency (KUNA).

    The future contracts of the West Texas brand went down by 66 cents to reach USD 46.98 pb. The future contracts of the Brent mix also went down by 66 cents to reach USD 49.26 pb.