KUWAIT, May 16 (KUNA) -- Price of Kuwaiti crude oil went up 49 cents to USD 107.54 per barrel (pb) in transactions on Tuesday, compared with USD 107.05 on Monday, reported Kuwait Petroleum Corporation (KPC) on Wednesday.

The global price of oil increased slightly yesterday after the German gross domestic product (GDP) for the first quarter was announced. The announcement came better than expected which gave hope that Germany might be leading Europe out of its debt crisis.