The price of Kuwaiti oil went up by USD 1.95 to USD 42.51 per barrel on Monday after being at USD 40.56 pb last Friday, said a statement by Kuwait Petroleum Corporation (KPC) Tuesday.

    At the global level, the price of oil was up due to expectations that major OPEC members and other international players will aim at reducing oil production by next week, according to (KUNA) news agency.

    The price of Brent crude was up by USD 2.04 to settle at USD 48.90 per barrel. The West Texas Intermediate also followed suit, going up by USD 1.80 to USD 47.49 pb