Kuwait likely to renew oil output reduction deal

Kuwait likely to renew oil output reduction deal
Photo Credit: Arabianeye-Reuters

By: Amr Adel

Abu Dhabi – Mubasher: The agreement previously sealed for reducing oil production may be extended to later than June, endorsed by the commitment of non-members of the Organization of Petroleum Exporting Countries (OPEC), the oil minister of Kuwait, Essam Al Marzouq, said on Thursday during the Gulf oil ministers’ meeting in Abu Dhabi.

In previous statements, the minister had noted that OPEC members are committed to the oil output reduction agreement by 106% in February, while the overall commitment to the deal accounted for 94%.

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Source: Mubasher Exclusive

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