Kuwait, Saudi Ara­bia, Qatar eye sta­ble oil mar­ket

Kuwait Times - - LOCAL -

Kuwaiti Min­is­ter of Oil Es­sam AlMar­zouq met yes­ter­day with the vis­it­ing Saudi and Qatari min­is­ters of en­ergy and in­dus­try Khaled Al-Faleh and Mo­ham­mad Al-Sada re­spec­tively on how to main­tain world oil mar­ket sta­bil­ity. The meet­ing came on the oc­ca­sion of the Saudi min­is­ter Faleh’s takeover of OPEC pres­i­dency from its out­go­ing head Sada, Kuwait Pe­tro­leum Co­op­er­a­tion (KPC) said in a press re­lease. Kuwaiti Min­is­ter of Oil Es­sam Al-Mar­zouq, who dou­bles as Min­is­ter of Elec­tric­ity and Wa­ter, is head of the OPEC’s pro­duc­tion con­trol com­mit­tee.

The meet­ing is part of con­tin­u­ing fra­ter­nal con­sul­ta­tions among the three Gulf min­is­ters on ways of pro­mot­ing tri­lat­eral co­op­er­a­tion, world oil mar­ket con­di­tions and re­bal­ance be­tween global sup­ply and de­mand, it said. It came fol­low­ing a re­cent OPEC agree­ment to cut pro­duc­tion by 2.1 mil­lion bar­rels per day, fol­lowed by a de­ci­sion by non-OPEC mem­bers to curb pro­duc­tion by around 560,000 bar­rels per day. — KUNA

KUWAIT: Kuwaiti Min­is­ter of Oil Es­sam Al-Mar­zouq (cen­ter) meets with his Saudi and Qatari coun­ter­parts, in pres­ence of other Kuwaiti oil of­fi­cials. — KUNA

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.