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  • 21-05-20

    Kuwaiti crude prices fall under Coronavirus

    (MENAFN) Based on the most recent official figures issued by the Kuwait Petroleum Corporation (KPC), Kuwait's crude oil dropped down by 3 cents to USD 26.89 a barrel on Wednesday, compared to Tuesday's trading in which the barrel reached USD 26.92.

    Meanwhile, oil rates have risen by 5 percent to a 10-week peak, supported by a five-million-barrel drawdown in last week's US crude inventories, overcoming forecasts of a 1.7 million barrel increase.

    In the previous week, US oil production had been reduced by 100,000 barrels per day (b / d) to hit 11,500 million b / d.

    In fact, worries about the possible coronavirus of Moderna (COVID-19) limited advances in the vaccination.


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