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Extend the voluntary cut to the full year of 2024

04-06-2023

His Excellency the Minister of Finance, Minister of Economic Affairs and Investment, Minister of Oil, Acting Minister of National Assembly and Chairman of the Board of Directors of the Kuwait Petroleum Corporation, Mr. Manaf Abdulaziz Al-Hajri, confirmed that the State of Kuwait will extend its voluntary reduction of 128 thousand barrels per day until the end of December 2024 as a precautionary measure, in coordination with other countries. Participation in the OPEC Plus agreement, which previously announced voluntary cuts in April. This came in an official statement issued by the Ministry of Oil, and this voluntary reduction will be from the required production level as agreed upon at the thirty-fifth ministerial meeting of OPEC Plus on June 4, 2024. ‏