Mubasher: The price of Kuwait’s crude oil increased by 63 cents to reach $74.26 per barrel (pb) on Tuesday when compared to $73.63 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices shrank on Wednesday in line with expectations for Iran’s crude exports to decline due to Washington’s sanctions against the Organization of Petroleum Exporting Countries’ (OPEC) third-largest producer.