UWAIT, June 22 (KUNA) -- Kuwaiti crude price went up USD 0.28 in yesterday's trading to reach USD 105.93 per barrel, according to Kuwait Petroleum Corporation (KPC).
The price reached USD 104.93 pb on Monday, with a 28 cents increase.
The slight increase in crude prices came after a series of severe drops last week, hitting USD 110.43 pb for the Kuwaiti crude on June 13.
Crude prices continue dropping in oil market after the announcement of a number of oil-producing countries to increase their production despite the OPEC's recent resolution to maintain the daily oil output for June.
The Greek sovereign debt crisis is affecting international oil prices, while the psychological factor is also controlling the market due to geopolitical unrests in the Middle East, especially in Libya, which completely halted its supplies of light sweet crude.
The Libyan supplies used to reach 1.6 million barrel on a daily basis, while the other oil producing countries could not cover this shortage, currently. (end) asj.ysa.mao KUNA 221238 Jun 11NNNN
