Mubasher: The price of Kuwait’s crude oil declined by $3.32 or 4.9% to settle at $63.93 per barrel (pb) on Wednesday compared to $67.25 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, oil prices increased in line with the OPEC’s intention to reduce crude production by 1.4 million barrels per day (bpd) in 2019.