KUWAIT, March 3 (KUNA) -- Kuwaiti Oil Minister Dr. Mohammad Al-Fares voiced optimism regarding a monthly meeting of OPEC+ after positive performance of oil markets contributing to their stability, according to a press release issued by the Ministry.
Al-Fares, also Minister of Higher Education, will head the Kuwaiti delegation participating in the 27th meeting of the Joint Ministerial Monitoring Committee (JMMC) scheduled for Wednesday, also the 14th OPEC and non-OPEC Ministerial Meeting held Thursday, all through videoconference.
Al-Fares commended the continued joint efforts and constructive cooperation to ensure stability and balance of markets during the next phase, especially that the ministerial conference being held monthly, allowing high flexibility to determine the levels of production necessary according to the recovery of global oil demand.
Recent OPEC+ decisions contributed to supporting markets and favored the gradual recovery of the global economy, which encouraged investment and recovery in industrial activity, as well as the return to normalcy in line with optimism and hopes about the COVID-19 vaccine to the masses, impacting the global recovery, he underscored.
Kuwait plays an active role in encouraging coordination among producing countries and supporting understanding to ensure the continued success of this historic agreement that achieves stability in oil markets, Al-Fares underlined.
Kuwait's delegation, in addition to Al-Fares, includes Kuwait's Governor for OPEC Haitham Al-Ghais and Kuwait's National Representative to OPEC Mohammad Al-Shatti. (end) km.lr