Kuwait – Mubasher: The Kuwaiti oil price dropped 18 cents per barrel (pb) early Tuesday, according to the Kuwait Petroleum Corporation (KPC).
The price amounted to $48.04 per barrel (pb) on Tuesday, compared to $48.22 pb on Friday, according to the KPC.
Oil trades were suspended on Monday due to the Labor Day holiday.
The price of US Nymex crude June delivery lost 2.58% to reach $47.58 pb, as Brent crude tumbled 2.23% to $50.37 pb.
US oil production rose to 9.03 million barrels per day in February 2017.
