By: Ahmad Awad
The positive results of the OPEC agreement will appear in the first quarter or during the first six months of 2017, Kuwait's oil minister, Essam Al Marzooq, said on Wednesday.
The balance in the oil market has already begun to appear in the current period, the minister said on the sidelines of the third Kuwait Oil & Gas Show & Conference (KOGS 2017).
The indicators confirm the countries’ obligations to reduce oil production, the minister said, noting that this is considered a guarantee throughout the path of oil recovery which will reach levels that attract further investment.
He added that there is a new strategy that targets a continuous cooperation between OPEC and non-OPEC members to achieve the balance and secure supplies.
Translated by: Ingy ElSafy
