Mubasher: Kuwait Petroleum Corporation (KPC) will coordinate with its clients in international markets slashing crude supplies in line with Kuwait’s commitment to the recent OPEC+ agreement on production cuts that comes into effect next May, state-run Kuwait News Agency (KUNA) recently reported.
The KPC reiterated its full support to Kuwait’s role in ensuring the success of the deal for the benefit of all stakeholders, in an attempt to restore global oil market balance.
On 13 April, OPEC and its allies agreed to cut output by 9.7 million barrels a day starting May for two months. The cuts will then taper to 7.7 million barrels a day from July through the end of 2020.
