Mubasher: The price of Kuwait’s crude oil rose by $1.15 to close at $51.93 per barrel (pb) on Monday, compared to $50.78 pb last Friday, according to the official prices of the Kuwait Petroleum Corporation (KPC).
Global oil prices increased by 4.5% on Monday to post the first rise after six consecutive losses, backed by hopes of deeper production cuts by OPEC and stimulus from central banks to support economies affected by the coronavirus (COVID-19) outbreak.
The death toll from the novel virus has risen to more than 3,100 people, with cases around 91,300 cases reported in 76 countries, of which 88% are in China.
