A+ A-

Kuwait Oil Min. says Kuwait supports OPEC+ production cuts

Oil Minister Dr. Khaled Ali Al-Fadhel
Oil Minister Dr. Khaled Ali Al-Fadhel
KUWAIT, Oct 29 (KUNA) -- Kuwait's Oil Minister Dr. Khaled Ali Al-Fadhel on Thursday denied the content of an international news agency's report issued today which stated that Kuwait and other countries are debating whether they should roll over existing oil supply cuts into 2021, as they struggle to stick to their agreed reductions, according to OPEC and industry sources.
Minister Al-Fadhel, who doubles as Minister of Electricity and Water, said to KUNA: "I am surprised at bringing Kuwait's name into this report", adding that "no Kuwaiti officials were contacted in connection with this report".
"Kuwait has supported this deal from day one, and has been one of the leading countries in terms of compliance with its agreed cuts in line with its longstanding history of impeccable compliance," said the Kuwaiti oil minister.
He added "The production cuts were agreed to by all of us back in April 2020, and we all signed this agreement. Kuwait fully supports the joint OPEC+ efforts to restore balance to the oil market, and going forward we will also support whatever necessary joint decisions will be agreed to under the OPEC+ framework." The minister stressed that there should be no doubt that "the established coordination with the Gulf countries will continue in this regard". (end) km.mt