Mubasher: The price of Kuwait’s crude oil declined by $1.24 to settle at $60.39 per barrel (pb) on Wednesday compared to $61.63 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).
Global oil prices decreased for the second session in a row to the lowest level in a week, following data on fuel inventories as well as the OPEC’s monthly report.
The U.S. Energy Information Administration (EIA) disclosed that fuel reserves in the US increased by 5.7 million barrels in the past week, while the OPEC’s monthly report on crude oil registered a decline of 133,000 barrels per day (bpd).
