Kuwait-Mubasher: The oil surplus in global markets amounts to 1.8 million barrels a day, Kuwait’s oil minister Ali Al-Omair said, adding that the problem revolves around the lack of commitment by non-OPEC producers to offer what could make prices stable.

Kuwait’s production of oil stands at 2.8 million barrels per day, and the production capacity reaches below 3 million barrels each day.

Oil prices cannot be predicted currently, stated the Kuwaiti minister.

Al-Omair noted that his country is always welcoming megaprojects like Al-Zour refinery and Clean Fuel Project, despite the fall of oil prices.