Kuwaiti oil barrel up 95 cents to USD 41.40

KUWAIT, July 13 (KUNA) -- Kuwaiti oil barrel rose 95 cents to reach USD 41.40 on Tuesday, compared to USD 40.45 on Monday, as announced by Kuwait Petroleum Corporation (KPC) on Wednesday.
Meanwhile, oil prices have prominently risen in the US yesterday, after OPEC expected an increase in oil demand in 2017 and a drop in international overflow of oil.
OPEC's report noted that production rate of its 14 member-states is expected to reach 33 million barrel per day next year with a rise of 1.1 million barrel compared to 2016. It added that demand will rise by 1.2 million barrel per day.(end) mam.ag