Mubasher: The price of Kuwait’s crude oil decreased by 61 cents to settle at $69.01 per barrel (pb) on Wednesday compared to $69.62 pb on Tuesday, according to recent data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices increased on Wednesday after a fluctuating session in line with the data on the US inventories.

Last week, the US oil production reached 11 million barrels per day (bpd) for the first time in history.