Mubasher: The price of Kuwait's crude oil declined by 7 cents to settle at $68.97 per barrel (pb) on Monday, compared to $69.04 pb on Friday, 27 December, according to the latest data by the Kuwait Petroleum Corporation (KPC).

Globally, oil prices hit the highest records in three months amid expected optimism regarding the US-China trade deal.

On Monday, the global benchmark Brent crude reached $68.99 a barrel, while West Texas intermediate (WTI) recorded $62.34.

Meanwhile, Iran’s oil ministry referred that halting production in Nasiriyah oilfield will not affect its exports, as Iran will use additional output from southern oilfields in Basra