Kuwait reaffirms commitment to OPEC+ at ministerial monitoring meeting

Minister of Oil Dr. Tariq Al-Roumi reaffirmed Kuwait’s commitment to supporting efforts aimed at stabilizing the global oil market, emphasizing that OPEC+ production decisions are based on market data and economic indicators.

His remarks came during the 61st ministerial meeting of the Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ voluntary oil production cut agreement, held via video conference, reports Al-Rai daily.

In a statement issued by the Ministry of Oil, Minister Al-Roumi expressed optimism about the current fundamentals of the oil market and underlined the importance of OPEC+ efforts in achieving energy security and maintaining market balance.

He added that the meeting demonstrated the collective commitment of participating countries to the Declaration of Cooperation, which plays a vital role in supporting global economic growth and reinforcing investor confidence.

Kuwait’s official delegation included OPEC Governor Mohammed Al-Shatti and National Representative Sheikh Abdullah Sabah Salem Al-Humoud Al-Sabah.

Meanwhile, the price of Kuwaiti crude declined to $71.59 per barrel, and OPEC+ reiterated the need for full compliance with production agreements.