Mubasher: The price of Kuwait’s crude oil reached $21.20 per barrel (pb) on Tuesday, 7 April, down by 91 cents when compared to $22.11 pb last Monday, according to the official prices released by Kuwait Petroleum Corporation (KPC).
At the global level, oil prices dropped by more than 9% ahead of the OPEC+ meeting and after the Energy Information Administration (EIA) had cut its 2020 oil price outlook by more than 20%.
The West Texas Intermediate crude slid by 9.39% or $2.45, to settle at $23.63 a barrel whilst Brent crude dropped by 3.57% to finish at $31.87 a barrel.
