Kuwait oil price up 64 cents to US$71.36 pb

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

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 $74.73 per barrel, the price of the West Texas Intermediate also went down by 50 cents to $68.

Source: Emirates News Agency