Kuwait – Mubasher: The price of Kuwait oil went up 20 cents to $46.73 per barrels Monday up from $46.53pb last Friday, according to Kuwait Petroleum Corporation.

At the global market, the price of oil retreated due statements linked to an Iraqi request, asking for exemption from OPEC’s plans to reduce production.

In addition, news regarding the resumption of production at the UK’s Buzzard oil field, which produces around 180,000 also affected the price.

The price of the Brent crude declined 32 cents to settle at $51.46 pb. Similarly, the West Texas Crude slide 33 cents to $50.20pb.