Mubasher: The price of Kuwait’s crude oil increased by 20 cents to settle at $67.28 per barrel (pb) on Wednesday from $67.08 pb in the previous session, according to the latest data by the Kuwait Petroleum Corporation (KPC).
At the global level, oil prices declined by 1%, following the disclosed data on the US crude inventories which coincided with worries over a slowdown in global economy.
The US Energy Information Administration (EIA) said that crude oil reserves in the US increased by 2.8 million barrels during the past week, unlike forecasts.
