Mubasher: The price of Kuwait’s crude oil increased by 58 cents to settle ate $61.69 per barrel (pb) on Monday compared to $61.11 pb on Friday, according to recent data issued by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices declined by the end of Monday, while the U.S. crude oil closed above $62 pb in line with worries over the crude production.

Production of the U.S. crude oil increased to 10.381 million barrels per day (bpd) during the week ended on 9 March compared to 10.369 million bpd in the prior week.