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Tuesday , November 24 2020

Kuwait supports OPEC efforts to restore oil market’s stability

KUWAIT, Oct 19 (KUNA) — Kuwait supports all efforts by OPEC member countries to restore stability in the international oil markets following the sharp decline in demand because of the coronavirus pandemic, the Gulf country’s Oil Minister said Monday.

Minister of Oil and the State Minister for Electricity and Water Dr Khaled Al-Fadhel

Dr Khaled Al-Fadhel, also Acting Minister of Electricity and Water, made the remarks ahead of participation in a virtual meeting of the Joint Ministerial market Monitoring Committee (JMMC), which was formed in 2017.

He said he was optimistic about outcome of the meeting and to see continuous cooperation between OPEC and non-OPEC countries, which was known as OPEC+, the Ministry of Oil quoted him as saying.
OPEC+ aims at slashing millions of barrels per day of production in a drive to restore prices

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