Kuwait – Mubasher: The price of Kuwait’s crude oil retreated by 43 cents to reach $51.29 per barrel (pb) on Wednesday as compared to $51.72 on Tuesday, Kuwait News Agency (KUNA) said according to Kuwait Petroleum Corporation (KPC).
Meanwhile, Brent crude oil went up by 99 cents to settle at $56.46 per barrel, and the West Texas Intermediate crude oil rose by 93 cents to reach $53.26 pb.
“At the global level, the price of oil went up as a result of a decrease in US crude reserves in addition to the near implementation of the OPEC and major producers' decision to decrease oil production this week,” KUNA said.
