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Kuwait – Kuwait's commitment to implement a production reduction agreement between the Organization of the Petroleum Exporting Countries (OPEC) reached about 160 percent in July, Kuwait's Minister of Petroleum said. Mr. Khalid al-Fadhil.
Al-Fadhil said Monday in a press release that it was technically related to the performance indicators of the oil markets. Until now, despite the recent drop in prices, oil markets are still mainly supported by an unprecedented commitment in the implementation of the production reduction agreement between the countries of the world. OPEC).
He reiterated that Kuwait is still committed to the success of this historic agreement and to restoring the stability of world oil markets.
Al-Fadhel explained that the performance indicators of the world oil market are still almost stable and that global demand for oil is acceptable and should recover in the coming months, despite the recent decline in oil prices and that overestimation global economic concerns negatively affect the stability of the oil markets.
Date: 2019-08-12
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