41509
Kuwait Urges Exporters to Cap Crude Production
Energy

Kuwait Urges Exporters to Cap Crude Production

Kuwait's Deputy Foreign Minister Khaled Jarallah said oil exporting countries must freeze production and the market could not support a production increase from Iran.
"There is no choice but to freeze production," KUNA quoted Jarallah as telling Japanese news agency Jiji Press on Saturday while he and acting oil minister Anas al-Saleh attend a Kuwait-Japan business seminar in Tokyo, Reuters reported.
Asked about Iranian production policy, Jarallah said, "Iran should learn from the market ... The market does not give an opportunity to increase production."
OPEC members and other oil exporters failed in a meeting in the Qatari capital Doha on April 17 to reach an agreement on freezing their output to rebalance the global oil market.
Iran has refused to join the supply freeze initiative and the deal fell apart after Saudi Arabia insisted Tehran take part.
It refused to sit at the negotiating table before reaching its pre-sanctions crude output level of 4 million barrels a day.
The country's oil production and exports were cut to around 2.5 million bpd and slightly above 1 million barrels a day during the sanctions.

Short URL : http://goo.gl/ld2rQg
  1. http://goo.gl/dkWdBN
  • http://goo.gl/fWXaRU
  • http://goo.gl/qNj8jK
  • http://goo.gl/v19TFf
  • http://goo.gl/MqMjdd

You can also read ...

Iran has estimated investment requirements in its petroleum projects at $200 billion.
Iran's state oil company is lining up a spate of subcontracts...
Iraq Boosts Kirkuk Refinery Output
Iraq’s Oil Ministry has added a new processing unit to the...
Brent, WTI Prices Stable
Oil markets were stable on Monday as ongoing output cuts led...
Investment in the energy sector should be focused on the completion of value chain.
The parliament is ready to back new investments that would...
China Starts World's Biggest Floating Solar Power Project
A unit of China Three Gorges Corp. is building a floating...
UN-Habitat Signs MoU on Tehran Water Management
The United Nations Habitat Office in Tehran signed a...
Indian Ban on Petcoke Imports Will Hurt US
India’s government is in favor of banning the import of...

Trending

Googleplus