Mubasher: The price of Kuwait’s crude oil fell in Tuesday's trading session amid concerns over trade developments.

Oil prices decreased by $0.73 to $61.76 on Tuesday, compared to $62.49 on Friday, according to recent data by Kuwait Petroleum Corporation (KPC).

By 06:10 am GMT, the Brent crude futures for December edged lower by 0.3% to $61.40 per barrel (pb).

The US Nymex for December inched down by 0.5% to $55.26 pb.    

The Energy Information Administration (EIA) will announce the US inventories and output data for the last week later today.  

On Tuesday, the American Petroleum Institute (API) said that the crude inventories fell by 708,000 barrels a day to 436 million barrels during the week ended on 25 October.

Meanwhile, OPEC and Russia agreed to cut the oil output by 1.2 million barrels a day until March 2020.