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Oil Minister: Kuwait will extend its voluntary cut of 128,000 barrels per day until the end of December 2024

05-06-2023

Minister of Finance, Minister of State for Economic Affairs and Investment, Minister of Oil, Minister of State for National Assembly Affairs, Acting Chairman of the Board of Directors of the Kuwait Petroleum Corporation, Manaf Al-Hajri, confirmed that the State of Kuwait will extend its voluntary cut of 128,000 barrels per day until the end of December 2024. Al-Hajri said in a statement quoted by a statement issued by the Ministry of Oil today, Sunday, that this voluntary cut comes as a precautionary measure, in coordination with the countries participating in the (OPEC Plus) agreement, which had previously announced voluntary cuts in April. He stated that this voluntary cut will be from the required production level, as agreed upon at the 35th OPEC Plus ministerial meeting, which was held earlier in the day.