Kuwait remains committed to oil production cuts

Oil Minister Khaled Al-Fadhel during the meeting.

Kuwait is committed to the production cuts mandated by the most recent decision of the Organization of Petroleum Exporting Countries (OPEC) and several non-OPEC members, said Minister of Oil and Minister of Electricity and Water Khaled AlFadhel.

Speaking on the sidelines of a meeting of oil producers in Jeddah, Saudi Arabia, the oil minister reiterated that production cuts were necessary to balance global stocks and maintain prices that were agreeable to both producers and consumers.

The talks in Jeddah, co-chaired by Saudi Arabia and Russia, comes ahead of the next OPEC gathering in Vienna in June. The Jeddah talks were attended by Iraq, the United Arab Emirates, Algeria, Nigeria, Kazakhstan, Oman, Bahrain, Venezuela, Libya, South Sudan, Azerbaijan and Brunei.

The participating ministers at the event.