Minister Khaled al-Fadil was speaking to Reuters over the phone after OPEC, Russia and other producers agreed, within the framework of the OPEC + group, on the largest reduction in oil production in history, which equates to about 10 % Of global supply, to support prices amid the Corona pandemic.
Kuwait’s production in April is higher than the reference level for the reductions under the new agreement, which means that the actual reduction of the Gulf OPEC product will exceed the advertised earlier on Sunday. >
The Kuwaiti Oil Minister stated in a tweet in Twitter that the agreement to reduce approximately 10 million barrels per day, starting from the first of May 2020.
According to sources, the OPEC + agreement calls for reducing production by about 9.7 million barrels per day by next May, while talking about a compromise with Mexico.
