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His Excellency Deputy Prime Minister and Minister of Oil Dr. Mohammad Abdul Latif Al-Fares participates in the "OPEC Plus" meetings.

03-08-2022

His excellency the Deputy Prime Minister, Minister of Oil and Minister of State for Council Affairs, Dr. Muhammad Abdul Latif Al-Fares, headed the State of Kuwait participants in the meeting of The 43 JMMC, as well as The 31 OPEC Plus , that took place on August 3, 2022 via video conferencing. The Kuwaiti OPEC team that participated With Minister Al-Faris, Governor of the State of Kuwait to OPEC, Mr. Muhammad Khadur Al-Shatti and the National Representative of the State of Kuwait to the Organization of the Petroleum Exporting Countries, Sheikh Abdullah Sabah Salem Hamoud Al-Sabah. At the beginning of the meeting, Dr Al-Faris extended his deepest condolences to the death of former OPEC Secretary-General Mohamed Barkindo, who dedicated his past years in leading the organization , and his efforts to bring views closer to Member States. Al-Faris also offered congratulations to OPEC Secretary-General Haitham Faisal Al-Ghais, who took over his duties, wishing him all the best and success in supporting and encouraging cooperation among member states and uniting efforts to create greater stability in the oil markets. According to a press release issued by the Ministry of Oil, Al-Faris said that OPEC Plus alliance continue its comprehensive cooperation to manage the oil markets effectively and play a greater role, stressing the need for cooperation and coordination among all producers to face any challenges or effects on the market supply. His Excellency praised OPEC Plus role in contributing to the stability of markets and the security of supply effectively, and the alliance is a key element in the balance of the market that must be maintained for the benefit of all, while stressing the full commitment of the State of Kuwait to the agreed production quotas. Al-Faris also praised OPEC Plus decision to increase supplies during September by 100,000 barrels per day to be a positive indicator supporting the market stability, and he mentioned that Kuwait's share for September 2022 at 2,818,000 barrels per day.