Mubasher: The price of Kuwait’s crude oil decreased by $2.14 to settle at $71.48 per barrel (pb) on Monday compared to $73.62 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

Globally, oil prices declined to continue the severe fall registered on Friday in line with Saudi Arabia and Russia’s statements over raising oil supplies.

Brent crude oil retreated by $1.35 to $75.09 pb, and the West Texas crude oil decreased by $1.66 to $66.22.