Kuwait Petroleum Corporation (KPC) announced that the price of the Kuwaiti oil decreased by $3.2, standing at $52.15 per barrel on Monday, compared to $55.35 per barrel in its latest trading session before China’s holiday on Wednesday.

Moreover, long-term oil contracts retreated by more than two percent. Also, long-term Brent contracts reached $58.9 per barrel; falling by $1.32 or 2.19%.