Mubasher: The price of Kuwait’s crude oil dropped 62 cents to settle at $60.8 per barrel (pb) on Wednesday compared to $61.42 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC).
At the global level, oil prices decreased before announcing the U.S. inventories of which initial estimation showed an increase in the stock.
The American Petroleum Institute (API) disclosed recently that the U.S. crude reserve grew by 907,000 barrels per day (bpd) to total 420.3 million bpd in the week ended on 16 February.
