Kuwait - Mubasher: The price of Kuwaiti oil barrel increased by 47 cents on Tuesday, according to the Kuwait Petroleum Corporation (KPC).
Kuwaiti crude reached $51.26 per barrel (pb) on Tuesday compared to $50.79 pb on Monday, Kuwait News Agency (KUNA) reported.
Oil prices also increased globally, due to data reports on the decline of US oil reserves and the shrinking gap between supply and demand, and the reports on OPEC and non-OPEC producers executing the output agreement.
Brent crude went up by 21 cents to $55.44 pb, and West Texas Intermediate (WTI) crude price rose by 43 cents to $53.18 pb.
