Mubasher: The price of Kuwait’s crude oil fell by 3 cents to settle at $73.42 per barrel (pb) on Wednesday, compared to $73.72 pb on Tuesday, according to the Kuwait Petroleum Corporation's (KPC) recent data.
While the global oil prices increased on Thursday, helped by the unexpected decline in US crude inventories, shrugging of the rise of US crude oil production.
US commercial crude oil inventories dropped by 1.4 million barrels to 432.4 million barrels in the week ended 11 May, according to the Energy Information Administration's (EIA) data released on Wednesday.
Meanwhile, US production touched an all-time high of 10.723 million barrels per day, up from 10.70 million bpd, EIA said.
