Mubasher: The price of Kuwaiti oil went up by $1.31 on Thursday, according to the the Kuwait Petroleum Corporation (KPC).
The Kuwaiti crude rose to the level of $64.75 per barrel, compared to $63.44 per barrel on Wednesday.
It is worth noting that crude oil prices settled lower on Thursday, despite the positive sentiment regarding market balance.
Nymex crude futures for May delivery fell 1.3% to settle at $64.30 a barrel, while Brent fell 0.70% to $ 68.84 per barrel.
US crude oil inventories declined by 2.6 million barrels last week to 428.3 million barrels, as shown by the data released by the US Energy Information Administration (EIA) on Wednesday.
