Kuwaiti crude oil was sold on Monday for 65.31 U.S. dollars per barrel, an increase of 95 cents from Friday's 64.36 dollars, Kuwait Petroleum Corporation (KPC) said on Tuesday.

Monday's oil price was close to the all time record high of 65. 49 dollars per barrel which was registered on May 2, 2006, according to KPC.

Prices of the Kuwaiti oil have maintained above the 60-dollar mark so far in 2006 as international oil prices have hiked due to technical, economic and geopolitical reasons, it added.

Kuwait, a member of the Organization of Petroleum Exporting Countries (OPEC), has boasted proven oil reserves of about 101.5 billion barrels. The emirate produces 2.289 million barrels of crude oil per day.

Source: Xinhua