Mubasher: Kuwait crude oil inched down by $0.13, to close at $65.34 per barrel (pb) on Wednesday, compared with $64.47 pb in Tuesday’s settlement, the Kuwait Petroleum Corporation (KPC) said.
Outside Kuwait, oil prices fell worldwide, after the US Energy Information Administration’s (EIA) weekly report on crude inventories and the monthly output figures from members of the Organization of the Petroleum Exporting Countries (OPEC).
US oil stockpiles saw a surprise build-up of 800,000 barrels per day (bpd) last week, while crude production recorded a historic high of 12.800 million bpd.
Furthermore, OPEC’s monthly report showed that the group produced 29.551 million bpd of oil last November, shedding 193,000 bpd month-on-month.
In the meantime, markets are awaiting the final decision on the scheduled US tariffs on Chinese goods, amid reports on the White House weighing a delay.
