Mubasher: The price of Kuwaiti oil closed Tuesday’s trading session higher, adding $.043 to $66.08 per barrel (pb), compared to $65.65 pb on Monday, according to data released by the Kuwait Petroleum Corporation (KPC).
Global oil prices rose on Tuesday on the back of forecast for the fall of the US crude oil stocks, while US crude (Nymex) ended the trading session at the highest level since December 2014.
Moreover, investors are awaiting the US Energy Information Administration’s (EIA) statement concerning the US crude inventories during the week ended 19 January 2018.
Crude oil prices were affected positively after Saudi Arabia oil minister Khalid Al Falih announced that OPEC and non-members might decide to extend the output cut to 1.8 million barrels till after 2018.
