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Kuwait, Saudi Arabia, UAE led effort to cut oil output - Min

Kuwait's Minister of Oil Dr. Khaled Al-Fadhel
Kuwait's Minister of Oil Dr. Khaled Al-Fadhel
VIENNA, Dec 6 (KUNA) -- Kuwait's Minister of Oil Dr. Khaled Al-Fadhel said Friday his country, Saudi Arabia and the United Arab Emirates lobbied successfully for the OPEC Plus pledge to cut the glut in oil production.
In statements to KUNA, the minster commended the decision made earlier today by the oil ministers of OPEC and non-OPEC producers to curtail the output by 500,000 barrels per day until next March.
The decision, unanimously approved by the seventh ministerial meeting of OPEC and non-OPEC partners, takes effect as of January, he pointed out.
Al-Fadhel reaffirmed Kuwait's commitment to its production quota with a view to ensuring equilibrium of the global oil market and protecting the interests of producers and consumers alike.
He took part in three minister-level meetings held as part of the 177th OPEC conference in addition to several bilateral meetings held on the fringes of the conference. (Pick up previous) amg.gb