Kuwait: Three countries, including Iraq, pledged to fully adhere to the OPEC+ agreement
Kuwait: Three countries, including Iraq, pledged to fully adhere to the OPEC+ agreement
2024-06-04 01:35
Shafaq News/ Imad Al-Ateeqi, Deputy Prime Minister, Minister of Oil, and Chairman of the Board of Directors of the Kuwait Petroleum Corporation, welcomed, on Tuesday, the results he described as positive, which resulted in the OPEC and OPEC Plus ministerial meetings in extending the voluntary production cuts until the end of December. /December of the year 2025.
Al-Atiqi pointed out in a statement today, the pledge of Iraq, Russia and Kazakhstan to achieve full compliance, and to resubmit their updated compensation plan, which is to compensate for an increase in production beyond the required production level since January of the year 2024, to the General Secretariat of OPEC, before the end of this June, according to It was agreed at the 52nd meeting of the Joint Ministerial Committee for Production Monitoring.
The Organization of the Petroleum Exporting Countries and its Russia-led allies, known as OPEC+, agreed on Sunday to extend most of their oil production cuts until 2025, but left room for eight members to gradually cancel voluntary cuts from October onwards.
shafaq.com