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Envoy confirms Kuwait support for oil market stability

Kuwaiti Ambassador to Austria heads the delegation at the 15th Meeting of the JMMC and 176th Meeting of the OPEC Conference.

KUWAIT CITY, July 2: Kuwaiti Ambassador to Austria and Permanent Representative to International Organizations in Vienna, Sadeq Maarafisaid on Tuesday that Kuwait supports all efforts aimed at stabilizing and balancing the oil markets. Ambassador Maarafi, who headed Kuwait’s delegation at the 15th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and 176th Meeting of the OPEC Conference, stressed the importance of the outcome of the agreement reached by OPEC yesterday to extend reducing oil production for nine months until the end of March. In a statement to KUNA, he said that OPEC has agreed on a draft cooperation charter with non- OPEC countries. Moreover, it was agreed to extend the mandate of OPEC Secretary- General Mohammed Barkindo for another term, he said, praising his role in bringing the views closer and strengthening cooperation between OPEC and non-OPEC countries. The oil ministers of the Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to extend the output cut till the end of March 2020. (KUNA)

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