Kuwait oil price up 64 cents to USD 71.36 pb

The price of Kuwaiti oil went up by 64 cents to USD 71.36 per barrel Monday after being at USD 70.72 per barrel last Friday, said the Kuwait Petroleum Corporation (KPC) Tuesday.

At the global level, the price went down after the recent OPEC agreement to increase production. The US stock markets’ lackluster performance, due to fears of the global trade war, also contributed to the price decline.

The price of the Brent crude went down by 82 cents to USD 74.73 per barrel, the price of the West Texas Intermediate also went down by 50 cents to USD 68.08 pb.

Source: Kuwait News Agency