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
Recent Posts
US Historical Distortion Claims Dismissed by Iranian MP
October 16, 2026
Strait of Hormuz Closure Linked to Iran’s Rights, Says Army Chief
October 16, 2026
Imam Khamenei Honors Nurses on Lady Zeinab’s Birth Anniversary
October 16, 2026
Iranian Navy Detects Burning Oil Tanker in Strait of Hormuz
October 16, 2026
President Pezeshkian Attends Biodiversity Conference in Armenia
October 16, 2026
Iran Criticizes Colombia for Opening Embassy in Occupied al-Quds
October 16, 2026
Iran Expresses Concerns Over US Presence in Surrounding Region
October 16, 2026
President Pezeshkian Concludes Visit to Yerevan for COP 17
October 16, 2026