The price of Kuwaiti oil went down three cents to reach $64.72 per barrel on Friday after it was at $64.75 per barrel the day before, the Kuwait Petroleum Corporation said on Saturday.

According to the Kuwait News Agency (KUNA), on a global level, oil prices went up after a statement by the Saudi energy minister from Washington saying that collaboration among Opec and non-Opec members "won't stop once the market is in balance. We'll be on together in 2019 and beyond, and always ready to step in to adjust production to stabilise the market."

The Brent Blend was up $1.54 to reach $70.45 per barrel, the same case with the West Texas Intermediate; up $1.58 to $65.88 per barrel, KUNA said.