LOC16:16
13:16 GMT
KUWAIT, March 1 (KUNA) -- Minister of Oil Tareq Al-Roumi said Sunday that Kuwait will continue supporting joint mechanisms within the OPEC+ alliance and actively participate in discussions to achieve sustainable market balance in line with global market indicators and medium-term stability requirements.
The statement followed a virtual meeting of the eight countries participating in the voluntary production cut exit agreement within OPEC+, which Al-Roumi chaired as head of Kuwait's delegation.
He noted the meeting reviewed supply and demand conditions, compliance with the agreed exit path, and ways to support market stability and secure energy supplies.
Al-Roumi welcomed the decision by the eight countries to raise total production by 206,000 barrels per day in April 2026, reflecting a gradual, responsible exit strategy amid seasonal recovery in oil demand and efforts to reduce market volatility.
Kuwait's production for April 2026 will reach 2.596 million barrels per day under the voluntary production cut exit framework.
The Kuwaiti delegation also included Sheikh Abdullah Sabah Salem Al-Humoud Al-Sabah, Kuwait's national representative to OPEC. (end)
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