Mubasher: The price of Kuwait’s crude oil decreased by 20 cents to settle at $58.91 per barrel (pb) on Wednesday compared to $59.11 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices increased noticeably on Tuesday after disclosing different results on the U.S. crude inventories and production.

The U.S. Energy Information Administration (EIA) announced that oil reserves in the U.S. increased by 1.8 million barrels in the week ended on 9 February, while it was expected for the oil stock to grow to 2.8 million barrels.

Official data showed that the crude oil exceeded 10.27 million barrels per day (bpd) in the past week.