Mubasher: The price of Kuwait’s crude oil increased by 58 cents to settle at $74.1 per barrel (pb) on Monday compared to $73.52 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices increased in line with the drop in production in Libya.

The US crude oil rose in conjunction with worries over a decrease in supplies from the OPEC members, including Venezuela and Libya.