Mubasher: The price of Kuwait’s crude oil declined by 5 cents to settle at $60.29 per barrel (pb) on Monday compared to $60.34 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).
At the global level, oil prices fell on Monday for the first time in three sessions, dragged by profit-collection transactions and the worries over increasing the U.S. crude oil production.
The U.S. crude oil declined to the lowest level of $58 pb.
The OPEC monthly report showed a decline of nearly 151,000 barrels per day (bpd) in October to total 32.59 million barrels.
