Kuwait – Mubasher: Kuwaiti oil price declined $1.63 on Tuesday to stand at $42.88 per barrel, compared with $44.51 on Monday, according to the Kuwait Petroleum Corporation.
Worldwide, Brent crude futures lost 47 cents to $48.14 per barrel, while US West Texas Intermediate (WTI) crude decreased 19 cents to $46.67 a barrel.
Earlier, market analyst Zamel Al-Otaibi said this decline is driven by a wave of profit-taking started after OPEC producers have taken no actual steps to join OPEC in limiting oil output during Vienna's meeting on Saturday, expecting the market's jittery performance to continue until the outcome of OPEC meeting this November is disclosed.
