Kuwait crude oil dropped 44 cents during Tuesday’s trading to reach USD 73.11 per barrel compared with USD 73.55 pb the day before, Kuwait Petroleum Corporation (KPC) said Wednesday.
Brent futures plunged USD 2.65 to USD 69.19 pb and West Texas Intermediate lost USD 2.96 to USD 65.75 pb.
OPEC, yesterday, lowered global oil demand projections in 2024, saying it would increase by 2.03 million barrels per day, dropping from a projected 2.11 million bpd last month.
US energy information department said global oil demand was expected to average 103.1 million bpd in 2024, up by 200,000 bpd than previous projections.
Source: Kuwait News Agency