Mubasher: The price of Kuwait’s crude oil lost 47 cents to settle at $60.90 per barrel (pb) on Wednesday compared to $61.37 pb on Tuesday, according to recent data issued by the Kuwait Petroleum Corporation (KPC).
Globally, oil prices declined by 2% in line with the increase in oil inventories, crude production, and the recovery of the U.S. dollar.
The U.S. Energy Information Administration (EIA) said that the U.S. reserve increased by 2.4 million barrels during the past week, while estimates showed a growth by 2.6 million barrels.
