Kuwait: No Exit From OPEC Cuts
Kuwait: No Exit From OPEC Cuts

Kuwait: No Exit From OPEC Cuts

Kuwait: No Exit From OPEC Cuts

Kuwait’s Oil Minister Bakhit al-Rashidi said on Wednesday there is no plan or intention so far to exit from a production-cutting agreement among OPEC and non-OPEC oil producers. “The production-reduction agreement will remain for a long time and there is no thinking right now to exit it,” Rashidi told a news conference in Kuwait City, Reuters reported. He said a Jan. 21 committee meeting of some OPEC and non-OPEC ministers in Oman would focus on reviewing adherence to the cuts, adding that compliance in December was at 125%. Qatar Energy Minister Mohammed al-Sada said last week, "It is premature to discuss an exit strategy from a global oil supply-cutting pact and supports the continuation of the agreement." The UAE foresees no major changes in OPEC’s policy to result from short-term price fluctuations, UAE Energy Minister Suhail al-Mazrouei said. “We hope the whole dynamic will continue throughout 2018,” Iraq said.


Short URL : https://goo.gl/zQzuNC
  1. https://goo.gl/2yJjpi
  • https://goo.gl/m2eyZX
  • https://goo.gl/4E7qUs
  • https://goo.gl/JD4bGh
  • https://goo.gl/8P4jzy

You can also read ...

China Can Substitute US Crude With Iranian Oil
Beijing’s retaliatory measures against US tariffs can include...
Exxon to Build LNG Terminal in Australia
ExxonMobil plans to develop a project to import liquefied...
Goldman kept its forecast that Brent Crude will hit $82.50 a barrel this summer and end 2018 at $75 per barrel.
Despite expectations that OPEC and Russia will likely decide...
Iran to Tap International Banks for Energy Finance
Domestic water and power plans are expected to draw a total of...
Japan Accelerates Plan for Restoring Gas Supply
Japan’s Osaka Gas Company said on Tuesday it would bring...
NIOC Needs to Maintain Current Output, Exports
Despite the US-Saudi Arabia ploy to coerce OPEC members' to...

Add new comment

Read our comment policy before posting your viewpoints