Posted inDRILLING & PRODUCTION

Kuwait to voluntarily cut 80,000 bpd in June

It is one of several Gulf nations making additionals cuts to production to help balance the market

by Staff Writer
Kuwait to voluntarily cut 80,000 bpd in June
Kuwait to voluntarily cut 80,000 bpd in June

Kuwait has agreed to voluntarily cut an additional 80,000 barrels per day of production in June, the nation’s oil minister said according to a report by the Kuwait News Agency (KUNA).

The move backs Saudi Arabia’s plan to cut an extra one million barrels per day next month. The UAE has also agreed to cut an additional 100,000 bpd on top of the existing cuts agreed to in the last OPEC+ meeting.

Staff Writer

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and...