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Kuwaiti oil barrel price gains $0.98

Kuwaiti oil barrel price gains $0.98
Photo Credit: Arabianeye-Reuters

 

Kuwait – Mubasher: Kuwait Petroleum Corporation (KPC) announced today that the price per one barrel of Kuwaiti oil rose during Wednesday’s trades by $0.98 per barrel, reaching $41.86 per barrel against $40.88 on Wednesday.

In its latest report, Jadwa Investments has forecasted a surplus in global oil supply during the first quarter of 2015 as demand will remain low, whereas US shale oil supply will continue to increase, added to supply from Russia and Iraq.