Kuwait – Mubasher: The price of Kuwait’s crude oil gained 6 cents to reach $43.62 per barrel on Wednesday as compared to $43.56 on Tuesday, according to the latest data issued by Kuwait Petroleum Corporation (KPC).
At the global level, Brent crude oil fell by 17 cents to settle at $48.95 per barrel, and the West Texas Intermediate oil was also down 7 cents to settle at $47.96 pb.
Oil prices retreated due to reports on the rise of drilling rigs in the US as well as speculations over OPEC's intensions to reduce production during the organization's meeting later this month.
