A multilateral effort to ease global oil supply-side strains on the market hasn’t worked as designed, a Kuwaiti official said Thursday. Photo by Oskari Porkka/Shutterstock June 22 (UPI) — The Continue Reading
Leading Gulf oil producers Saudi Arabia and Kuwait gave the clearest signal yet that OPEC plans to extend into the second half of the year a deal with non-OPEC producers Continue Reading
Some of OPEC’s biggest oil producers, including Saudi Arabia, are now targeting $60 a barrel as the level where they want to push crude prices, OPEC officials said, signaling they Continue Reading
Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that Continue Reading
Kuwait Energy Plc is planning an initial public offering in London that could value the oil and gas exploration business at as much as $1 billion, according to people familiar Continue Reading
Kuwait is sticking with plans to add half a million barrels a day of oil-production capacity as it prepares for the eventual expiration of the output quotas OPEC adopted to Continue Reading
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Continue Reading
Kuwait is committed to cutting output by 131,000 b/d in January in line with its commitments under OPEC’s output reduction deal, oil minister Essam al-Marzouq said Thursday. That was despite Continue Reading
Kuwait and Saudi Arabia agreed that any resumption of crude production from shared oil fields along their border won’t raise their output beyond limits set at an OPEC meeting last Continue Reading
A Kuwaiti judge and his aides count the ballots at a polling station. Thirty of 50 lawmakers lose seats in Saturday’s election New assembly may find relations with government strained Continue Reading
