Kuwait oil price rises to USD 37.11 pb

KUWAIT, Dec 2 (KUNA) -- Kuwait oil price rose USD 1.05 to USD 37.11 per barrel in Tuesday's trades as compared to USD 36.06 pb on Monday, Kuwait Petroleum Corporation said on Wednesday.
OPEC forecasts rise of global demand for the crude oil in 2016, with increase of supplies from the cartel member states by some 700,000 barrels per day.
Oil ministers of the organization member states are due to hold their fourth meeting later this month to re-examine the output quota accord, in light of current and prospected market conditions in first half of next year. (end) mke.tb.rk