Kuwait – Mubasher: The price of Kuwaiti oil on Tuesday went up by $0.99 to $45.90 per barrel (pb) from $44.91 pb on Monday, according to the Kuwait Petroleum Corporation (KPC).
Global oil prices surged, as the American oil crude recorded the biggest daily profits over the current year.
The price of Nymex crude oil went up 3.3% to the level of $47.89 pb, while Brent crude levelled up 3.2%, recording $50.18 pb.
The Saudi exports pledge on Monday bolstered the rise of oil prices.
In an attempt to reduce oil supply to maintain the price level, both Nigeria and Libya approved to limit crude oil production in the next phase.
