KUWAIT, June 9 (KUNA) -- Price of the Kuwaiti crude barrel increased USD 1, 25 on Wednesday trading, hitting the level of USD 108,90, compared to USD 107, 65 in Tuesday's trading, Kuwait Petroleum Corporation (KPC) said. Crude oil prices increased, following the decision of Organization of the Petroleum Exporting Countries (OPEC), to keep production ceiling at the previous levels without agreement on the proposal of Saudi Arabia to raise it by 1.5 million barrels. It was expected that OPEC states would raise their crude oil production, as a step to control the hike of crude prices that affect recovery of the world economy. Saudi Arabia, the largest crude oil producing country in the world, called on OPEC to raise the production, following the cut of Libyan supplies by 90% due to turmoils in the country. OPEC announced yesterday that the oil ministers of the member countries decided to maintain production ceiling of 26.9 million barrel per day, and monitor the oil market developments during the next three months. This is the eight consecutive time that OPEC maintains its production ceiling since December 2008, when it decided to reduce supplies by more than four million barrel per day, due to negative effect of economic recession in the world on demand and prices.(end) mam.ysa.lb KUNA 091252 Jun 11NNNN

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