Kuwait – Mubasher: The price of Kuwait’s crude oil gained $1.40 to reach $48.71 per barrel (pb) on Monday as compared to $47.31 on Friday, according to recent data issued by Kuwait Petroleum Corporation (KPC).
At the global level, Nymex closed Monday’s session 2.1% higher at $48.9 pb, and Brent crude oil rose by 1.9% to $51.8 pb.
It is noteworthy that Saudi Arabia and Russia in a joint statement will extend the agreement on reducing oil production starting from mid-2017 until March 2018.
