Mubasher: The price of Kuwait’s crude oil declined by 75 cents to settle at $59.54 per barrel (pb) on Tuesday compared to $60.29 pb on Monday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).

Meanwhile, global oil prices increased on Tuesday, impacted by the OPEC’s decision to extend the agreement over decreasing oil output for nine months to end in December 2018 instead of March.

Nymex crude oil edged up 0.1% to reach $57.53 pb, rebounding from the decrease witnessed on Monday.