(MENAFN- Qatar News Agency) Kuwait Petroleum Corporation (KPC) said Saturday that the price of Kuwaiti crude oil was up 68 cents, reaching USD 106.82 per barrel (pb) on Friday compared to USD 106.14 pb the day before.
The increase of Kuwaiti crude prices came as the world prices went down.
Talks regarding to a solution for the U.S. government shutdown prevented global prices from plunging
In its monthly report issued Friday, the International Energy Agency (IEA) predicated that oil supplies from non-OPEC members will reach 1.7 million barrels per day by 2014, the highest annual growth since the 1970s
The IEA also predicted that the U.S, will become the biggest producer of oil next year, surpassing Russia due to its increasing production of shale oil, unconventional oil produced from oil shale by pyrolysis, hydrogenation, or thermal dissolution.
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