Mubasher: The price of Kuwait’s crude oil grew by 66 cents to settle at $63.29 per barrel on Tuesday, compared to $62.63 pb a day earlier, according to the Kuwait News Agency.
Brent crude futures rose by $0.83 to hit $62.96 pb, while Nymex WTI went up by $0.69 to reach $57.23 pb.
The Organization of the Petroleum Exporting Countries (OPEC) projected that it will supply a shrinking amount of oil over the coming five years, citing growing US shale production and non-OPEC supplies, the producer club said.
