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His Excellency the Minister attends the (OPEC +) meetings in Vienna

04-10-2022

OPEC+ oil producers during their meeting in Vienna Wednesday will examine crude market conditions and take decisions for ensuring oil flow to the market and its balance, the Kuwaiti oil minister said on Tuesday. The forecast decision by the key crude producers will serve interests of both producers and consumers, said Dr. Mohammad Al-Fares, also the Deputy Prime Minister, Minister of State for Cabinet Affairs and the Acting Minister of State for National Assembly Affairs. He made the statement to KUNA upon his departure to Vienna to partake in the 45th meeting of the OPEC+ joint committee for observing oil production (JMMC) and the 33rd broad ministerial meeting. Officials partaking in these scheduled regular meetings will review developments in the international oil markets ahead of taking the proper decision to maintain balance between the crude supply and demand, said Dr. Al-Fares who also indicated that the key crude producers would take a decision intended to ensure stable flow of the crude oil to the markets. He also hinted that the previously reached understanding among these oil producers to maintain the market balance proved to be successful during the 2020-2021 period. The Kuwaiti delegation due to participate in the Vienna meetings include the State of Kuwait Governor at OPEC Mohammad Al-Shatti and the National representative at the organization, Sheikh Abdullah Sabah Al-Salem Al-Humoud Al-Sabah.