Mubasher: The price of Kuwait’s crude oil surged $2.01 to $57.78 per barrel (pb) on Wednesday, compared to $55.77 pb on Tuesday, according to the Kuwait Petroleum Corporation (KPC).
Globally, oil prices jumped more than 5% on Wednesday, recording their eighth successive growth and highest level since mid-December, following statements about Saudi Arabia’s output cuts.
February NYMEX WTI increased by $2.58, or 5.2%, to close at $52.36 pb, as talks between the US and China saw positive progress.
