The price of Kuwaiti crude oil declined by USD 1.25 to settle at USD 62.52 per barrel on Friday, compared with USD 63.77 recorded the previous day, according to figures released by the Kuwait Petroleum Corporation (KPC).
The dip in Kuwait’s crude price comes as global oil markets continue to experience mixed movements, with international benchmarks showing marginal gains at the end of the week.
In global trading, the settlement price for Brent crude futures — the international benchmark — rose by 23 cents to reach USD 61.29 a barrel. Similarly, US West Texas Intermediate (WTI) crude futures saw a modest increase of 8 cents, closing at USD 57.54 per barrel.
Market analysts attributed the fluctuations to ongoing uncertainty over global demand trends and supply expectations. While some regions have shown signs of stronger economic recovery, concerns about slowing industrial activity in key economies and the potential impact of geopolitical developments have kept investors cautious.
Oil prices have remained under pressure in recent weeks due to a combination of factors, including higher production levels from certain OPEC+ members, expectations of weaker fuel demand during the final quarter of the year, and continued volatility in global financial markets.
Traders noted that Brent and WTI prices edged higher largely on the back of short-term supply constraints and a weaker US dollar, which tends to make oil more attractive to holders of other currencies. However, regional producers like Kuwait, whose oil is priced differently, have seen sharper fluctuations tied to refining margins and export demand.
Energy experts say Kuwait’s latest price movement reflects broader dynamics in the Gulf’s oil export market, where buyers are negotiating shorter contracts and demanding greater flexibility amid uncertain economic conditions.
Despite the weekly decline, Kuwait’s crude price remains within a range that energy analysts describe as relatively stable compared to earlier in the year, when prices experienced steeper drops driven by concerns about oversupply and slower global growth.
KPC continues to monitor international market developments closely, with officials emphasising that the corporation’s pricing strategy aims to balance competitiveness with long-term stability in export revenues.
As global markets head into the final months of 2025, attention is expected to turn to upcoming OPEC+ meetings, where member countries will assess production targets for the coming year amid efforts to stabilise prices and maintain market balance.
