State-owned Kuwait Petroleum Corporation reports a $2.88 gain per barrel during Friday’s trading, diverging from broader international Brent and WTI futures trends.
KUWAIT CITY — August 29, 2026:Kuwaiti crude oil jumped by $2.88 to trade at $87.44 per barrel on Friday, even as major global benchmark futures recorded slight declines at the close of the trading week.
Official price figures released on Saturday by the state-owned Kuwait Petroleum Corporation (KPC) showed the domestic physical crude export price rising from Thursday’s benchmark of $84.56 per barrel. The single-day surge of over 3.4% reflects tightening physical supply differentials across Persian Gulf export grades bound for Asian markets.
The upward movement in Kuwait’s physical export pricing contrasted with global paper futures, which finished the week under mild selling pressure. International benchmark Brent crude dipped 39 cents to close at $89.31 per barrel. Simultaneously, West Texas Intermediate (WTI), the U.S. crude benchmark, eased by 13 cents to settle at $83.40 per barrel.
Energy market analysts attribute the divergence between physical Gulf crude prices and paper futures to regional spot demand dynamics and OPEC+ supply quota compliance. While global paper markets reacted to broader macroeconomic sentiment and interest rate expectations, physical crude differentials in the Middle East remained supported by steady refinery intake in Asia.
Kuwait, a key producer within the Organization of the Petroleum Exporting Countries (OPEC), continues to adjust its daily output in line with agreed OPEC+ target quotas aimed at stabilizing global oil inventories. KPC pricing adjustments serve as a key baseline for long-term export contracts to major Asian buyers, including refiners in China, India, and Japan.
