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His Excellency the Minister of Oil heads the Kuwaiti delegation to the "OPEC +" meetings

03-03-2021

His Excellency the Minister of Oil and Minister of Higher Education, Dr. Mohammed Abdullatif AlFares, heads the Kuwaiti delegation participating in the 27th meeting of the Joint Ministerial Committee for Production Control (JMMC), scheduled for Wednesday, March 3, 2021, as well as the fourteenth ministerial meeting of the Organization of Petroleum Exporting Countries and producing countries outside OPEC (OPEC +), to be held on Thursday, March 4, 2021, through video communication technology. Alfares will participate with the Governor of the State of Kuwait to OPEC, Mr. Haitham Al-Ghais, and the national representative of the State of Kuwait to OPEC, Mr. Muhammad Al-Shatti. Prior to his participation in the meeting, according to a press release issued by the Ministry of Oil, Minister Alfares expressed his optimism about the monthly meeting of "OPEC +", after the positive performance of the oil markets and their stability in light of the consensus climate between the countries participating in the agreement, and praised the continuation of joint efforts and constructive cooperation to ensure stability and balance. During the next stage, especially in light of the holding of the Ministerial Conference on a monthly basis, which allows for speed and high flexibility to determine the necessary levels of production according to the recovery of global demand for oil. AlFares stressed that the recent OPEC + decisions contributed to supporting the markets and favored the gradual recovery of the global economy, which encouraged the investment climate and recovery in industry activity and the return to normal life, and is in line with optimism and hopes about the spread of the Corona vaccine (Covid-19) and its impact. On the global economic recovery. AlFares stressed that the State of Kuwait plays an active role in encouraging coordination between producing countries and supporting understanding to ensure the continued success of this historic agreement that achieves stability in oil markets.