Mubasher: The price of Kuwait’s crude oil rose by 92 cents to reach $64.93 per barrel (pb) on Wednesday from $64.01 pb on Tuesday, according to the latest data showed by the Kuwait Petroleum Corporation (KPC).

On the global level, crude oil prices declined on Wednesday amid a volatile session, despite the severe decrease in the US oil inventories and production.

Last week, the US crude oil reserves declined below expectations by 10.8 million barrels, the US Energy Information Administration (EIA) reported.

Moreover, the US oil production lowered by 700,000 barrels to stand at 11.300 million barrels last week.

Investors are anticipating for resuming trade talks between the US and China next week, hoping for reaching a deal between the two sides to undermine worries over a slowdown in oil demand