Mubasher: Kuwait’s oil decreased by 21 cents to $60.69 per barrel (pb) on Wednesday from $60.9 pb on Tuesday, data released by the Kuwait Petroleum Corporation (KPC) showed.
Globally, oil prices settled lower on Wednesday amid concerns of slowing global economic growth and an ongoing political conflict in Venezuela.
Crude prices have been under pressure lately following a report that the European Union (EU) was mulling over a mechanism that would facilitate non-dollar trade with Iran, thereby challenging the United States’ sanctions on Iran.
