Tag Archives: Kuwait

Russia would eventually agree to cut its oil production.

Saudi Arabia is the world’s top oil exporter and OPEC’s de-facto leader.

The committee groups representatives are from Saudi Arabia. Russia. the United Arab Emirates. Kuwait. Algeria. Venezuela and Oman.

Kuwait is the Middle East region’s fifth-biggest oil producer but has limited gas resources.

The biggest OPEC producer. Saudi Arabia. pumped 10.63 million bpd in July.

Kuwait has long planned to increase its global capacity to produce oil and gas.

OPEC’s crude oil production rose by 70.000 bpd from June to stand at 32.64 million bpd in July.

All oil shipments passing through Bab Al-Mandab Strait have been suspended temporarily until navigation through the area is secure

The two countries will probably resume production on two joint oilfields in the south of Kuwait.

The development builds on discussions during a climate summit in Paris last year.