Mubasher: The price of Kuwait’s crude oil increased by 6 cents to settle at $60.53 per barrel (pb) on Tuesday compared to $60.47 pb on Monday, according to the latest data issued by Kuwait Petroleum Corporation (KPC).

Global oil prices rose on Tuesday, as Nymex crude oil added 30 cents to reach $57.46 pb.

The US Energy Information Administration (EIA) has expected the country’s production of shale oil to reach a record level in January 2018 by 94,000 barrels per day (bpd).