The Minister of Oil and Acting Minister of Electricity and Water Dr. Khaled Al-Fadhel and Kuwait’s Governor of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al-Ghais will participate in the OPEC 180th Ministerial Meeting on Monday and the 12th OPEC plus Ministerial Meeting on Tuesday through video communication Conference.
Al-Fadhel said in a statement conveyed by a press release by the Oil ministry that Kuwait continues its cooperation and full commitment to increase production levels according to OPEC quota in order to create a balance in the global oil markets.
He mentioned that Kuwait is still playing an effective role in the negotiations and discussions, which led to the adoption of many OPEC decisions, adding that OPEC’s decisions brought stability and confidence to the oil market and increasing the oil sector’s contribution to the global economy.
On the regards of OPEC meeting, Al-Fadhel said that the global oil market is looking forward to the influential role of states members to stabilize the oil market, especially in the next phase.
OPEC appreciated Kuwait’s role in advancing the desired cooperation between all member states in the organization in order to achieve balance and stability in the global oil market.
Source: Kuwait News Agency