Mubasher: The price of Kuwait’s crude oil increased by $1.25 to settle at $77.97 per barrel (pb) on Monday compared to $76.72 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).
On Monday, oil prices hit the highest level since 2014 on the back of Saudi Arabia and Russian's decision of not increasing their output.
US President Donald Trump previously called Saudi Arabia, the Organization of Petroleum Exporting Countries’ (OPEC) kingpin nation, to increase its output.
“We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!” Trump said on Twitter.
