Mubasher: The price of Kuwait’s crude oil decreased by 70 cents to settle at $66.8 per barrel (pb) on Monday compared to $67.5 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

At the global level, Brent crude oil remained steady early Tuesday amid expectations for the US shale oil to reach the highest production level in August.

The Energy Information Administration (EIA) predicts the US shale oil output to increase by 49,000 barrels per day (bpd) to 8.546 million bpd in August.

Earlier on Tuesday, the price of Brent crude oil, September futures, remained steady at $66.50 pb. Meanwhile, Nymex crude oil, August futures, went down 0.1% to $59.50 pb.