Mubasher: The price of Kuwait’s crude oil increased by $1.26 to reach $49.18 per barrel (pb) on Monday compared to $47.92 pb, according to the latest data issued on the Kuwait Petroleum Corporation (KPC).

It is noteworthy that Iran’s oil minister on Monday said that the compliance of members of the Organization of Petroleum Exporting Countries (OPEC) with the agreement to reduce oil production has improved in the past months.