Kuwait Changes Oil Minister

Kuwait Changes  Oil Minister Kuwait Changes  Oil Minister

Kuwait named Deputy Prime Minister Anas Al-Saleh as acting oil minister to replace Ali al-Omair who became minister of public affairs and retained his role as state minister for parliamentary affairs, according to an official decree, Bloomberg reported. The change in portfolio comes days before Omair was due to represent Kuwait at the meeting of the Organization of Petroleum Exporting Countries on Dec. 4 to discuss the group’s production level amid a slump in prices due to a global glut. Earlier this month, Omair swapped the chief executive officers of state companies Kuwait Oil Co. and Kuwait Foreign Petroleum Exploration Co., unit known as Kufpec. Experts say Omair's departure is not expected to mean any change in the oil policy of the OPEC member; Kuwait's oil policy is set by the country's Supreme Petroleum Council. Saleh, 43, who hold a bachelor's degree in business administration from Portland University in the US, is also finance minister. Kuwait is the fourth-biggest producer in OPEC and pumped 2.82 million barrels a day of crude in October.