Kuwait crude oil down 48 cents Monday – KPC

Kuwait crude oil down 48 cents Monday – KPC
Oil reserves decreased by 23.6 million barrels in September

Mubasher: The price of Kuwait crude oil decreased by 48 cents to settle at $60.09 per barrel (pb) on Monday compared to $60.57 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).

At the global level, the price of crude oil closed Monday unchanged in line with the decline of global crude oil inventories.

Oil reserves decreased by 23.6 million barrels in September, posting the second decline in a row.

The production of shale oil is forecast to increase by 80,000 barrels per da (bpd), according to recent official data in the U.S.

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Source: Mubasher

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