Mubasher: The price of Kuwait’s crude oil slipped by $1.18 to $60.33 per barrel (pb) on Tuesday, 1 October from $61.51 pb on Monday, based on Kuwait Petroleum Corporation’s (KPC) official prices.
Globally, oil prices fell on Tuesday in a volatile session amid concerns of a slowdown in oil demand, following negative manufacturing data.
The crude prices were down as the US manufacturing sector has fallen to its lowest level in ten years last September.
On Monday, OPEC’s crude production fell to the lowest level in eight years by 750,000 barrels per day (bpd) to 28.9 million, a Reuters survey revealed.
Source:
Mubasher