05 June 2023

Kuwait to Continue Voluntary Oil Output Reduction until End of 2024

International and Arabic
  • Kuwait

Kuwait, June 04 (QNA) - Kuwait announced Sunday that it will continue its voluntary oil output reduction by 128,000 bpd until the end of 2024.

This voluntary cut comes as a precautionary measure taken in coordination with the countries partaking in the OPEC+ deal on the decrease announced last April, said Manaf Al Hajri, Minister of Oil, Minister of State for Economic Affairs and Investment, and Chairman of the Board of Directors of the Kuwait Petroleum Corporation.

This reduction will be from the output level agreed upon in the 35th ministerial meeting of the OPEC held earlier in the day, Al Hajri stressed. (QNA)


Economy, Gulf
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