Kuwaiti oil down 85 cents to $40.66 per barrel
Kuwait's crude oil
Kuwait - KUNA
The price of Kuwaiti oil barrel went down 85 cents on Monday, reaching USD 40.66, compared to last Friday's 41.51 per barrel, said Kuwait Petroleum Corporation (KPC) on Tuesday.
Global oil prices are currently in lowest trends in six years due to the ongoing dilemma of weak demand versus saturated markets.
OPEC Secretary General Abdullah Al-Badri yesterday predicted recovery to include oil prices "very soon", pointing out that the current decline should not be alarming.
On the prospect of a change in oil policy in top OPEC producer Saudi Arabia under the new king, Al-Badri told Reuters "Saudi Arabia is a stable country, is a stable government, and I think things will be normal".
Oil's decline in 2014 was its second-biggest ever, after the collapse in 2008 which followed the record high.
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