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Oil rises as Kuwaiti oil workers strike cuts output for third day

Oil prices rose on Tuesday as an oil workers strike in Kuwait nearly halved crude production from the OPEC member, overshadowing bearish sentiment following Sunday's failure by oil producers to agree to freeze output levels.

Thousands of Kuwaiti oil workers downed tools for a third day on Tuesday to protest against planned public sector pay reform, cutting crude output to 1.5 million barrels per day (bpd), according to an oil spokesman cited by news agency KUNA.

That is little more than half of Kuwait's average output of 2.8 million bpd in March.

"The Kuwaiti strike is supporting prices," said Tamas Varga, oil analyst at London...


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