The price of Kuwaiti oil went up by 18 cents to USD 40.33 per barrel (pb) Monday as oppose to USD 40.15 pb last Friday, Kuwait Petroleum Corporation (KPC) said Tuesday.

    At the global level, the prices went up mainly due to the US Dollar hike and reports of OPEC cutting output, according to Kuwait (KUNA) News Agency.

    The Brent Crude price went up by 57 cents to settle at USD 46.15 pb. The price of the American crude also went up 82 cents to USD 44.89 pb.