Mubasher: Kuwait crude oil rose by $0.23, settling at $62.61 per barrel (pb) on Tuesday, compared with $62.38 pb in the previous session, the Kuwait Petroleum Corporation (KPC) said.
Globally, oil prices settled on Tuesday, after a choppy session, amid expectations that the Organization of the Petroleum Exporting Countries (OPEC) and allied producers would announce further supply cuts in their Vienna meeting on 5 December.
International benchmark Brent crude futures ended last session $0.10 higher, while US Nymex futures gained $0.14.
JPMorgan expected the so-called OPEC+ alliance to trim output by 1.5 million barrels per day (bpd) until the end of next year.
Oil markets were previously bearish on the back of disappointing signals on the trade dialogue between the US and China, following President Donald Trump’s remarks.
Trump said that it would be better for the trade deal with Beijing to wait after 2020 presidential election.
