Mubasher: The price of Kuwait’s crude oil fell by 53 cents to settle at $60.61 per barrel (pb) on Tuesday when compared to $61.14 pb a day earlier, according to the official prices of Kuwait Petroleum Corporation (KPC).   

Globally, oil prices slid by 1.5% amid investors’ concerns over a slowdown in crude demand.

The International Monetary Fund (IMF) has lowered the global growth forecast to 3% for 2019, the least in ten years. 

The American Petroleum Institute (API) will announce the initial US inventory data for the last week on Wednesday, 16 October.