Mubasher: Kuwait crude oil climbed by $0.64, to close at $65.41 per barrel (pb) on Monday, compared with $64.77 pb in Friday’s settlement, the Kuwait Petroleum Corporation (KPC) said.

Outside Kuwait, oil prices, however, fell worldwide, after disappointing data from China, against the backdrop of the trade conflict with the US.

Global benchmark Brent crude futures shed $0.14 to 64.25 pb, while US Nymex futures dropped by $0.17 to $59.02 pb.

Chinese exports dropped last November for the fourth month in a row, confounding analyst forecasts, whereas imports surged for the first time in seven months.

While market participants are watching positive signals on trade ties between the world’s two biggest economies, uncertainty persisted as to the first phase of the anticipated trade deal.

On the supply front, members of the Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated producers agreed to reduce further output levels as from the start of 2020, for three months to March, when they are due to review production policy.

The producer club is due to release its monthly Oil Market Report (OMR) later in the week.