Kuwait keeps Feb oil output unchanged at 3m barrels

Kuwait-Mubasher: Kuwait has maintained its oil production at 3 million barrels per day during February, the same levels as in January, according to an OPEC report.

The report showed that the move came in time when several oil-producing countries seek to freeze production due to oversupply and low prices. However, this proposal is facing rejection by Iran which insists upon raising its production capacity to 4 million barrels as an essential condition for freezing its oil output.

The country did not receive an invitation for the meeting which will be held between OPEC-states and other non-OPEC producers to freeze oil production in April, acting oil minister Anas Al-Saleh said on Monday. 

Mubasher Contribution Time: 15-Mar-2016 07:37 (GMT)