KUWAIT CITY, Jun 3 (NNN-KUNA) – Kuwait yesterday announced that, its oil production will rise to nearly 2.77 million barrels per day (bpd) in July.
Kuwaiti Deputy Prime Minister and Oil Minister, Mohammad Al-Fares, made the announcement, after participating in the 29th Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting, held via videoconference.
Al-Fares said that, Kuwait’s oil production will rise to nearly 2.77 million bpd in July, based on the decision of OPEC and its allies, a group known as OPEC+.
The minister praised the decision of OPEC+ to raise the monthly production, saying that, it would contribute to enhancing the security of supplies in the oil markets.
“This means that the OPEC+ countries will recover a large part of their production quotas, in the coming months, close to the levels before the outbreak of the COVID-19 pandemic, at the beginning of year 2020,” he said.
OPEC+ yesterday agreed to significantly increase oil output in July, amid calls for the alliance to help contain the surging oil prices.– NNN-KUNA
