According to the latest economic brief published by National Bank of Kuwait, oil revenues came to KD 2.56 billion for the first six-month period of the fiscal year 2001/2002, down 22 percent from the same period in the prior fiscal year. A 12.8 percent drop in the price of Kuwaiti crude coupled with a 6.5 percent decline in Kuwait’s oil production was behind this drop. The price of Kuwaiti crude fell to $23.2 per barrel during the first six months of FY01/02 versus $26.6 during the first six months of FY00/01. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
