Kuwait will not be involved in the oil price war

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KUWAIT CITY, March 17: An official oil source told the Al-Anba daily Kuwait will not be involved in the oil price war and the dispute over market shares that some producing countries have embarked upon following the collapse of the OPEC agreement with allied producers on reducing oil supplies, which was clearly demonstrated in the collapse of crude by about 30 percent, reports the daily.

The source said Kuwait’s oil exports was two million barrels per day and will not exceed this level during the coming months as it has not been requested so far from the Kuwait Oil Company to increase production for the month of April.

The source pointed out the demand for Kuwaiti oil is increasing sharply, as many consuming countries resorted to stockpiling oil after prices fell sharply, especially in the Southeast Asian countries, noting that the quality of oil encouraged consumers to buy.

This news has been read 13108 times!

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