Kuwait welcomes the agreement to freeze oil production and confirms its commitment to
Kuwait welcomes the agreement to freeze oil production and confirms its commitment to its
February 16, 2016 21:28
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Kuwait on Tuesday welcomed the Doha agreement quadruple the judge to keep the oil output ceiling at January levels last confirmed its commitment to install its output levels mentioned by month, calling on everyone to provide the benefit of market stability and balance.
Said Deputy Prime Minister and Finance Minister and Acting Oil Minister Anas Saleh told Kuwait News Agency [KUNA that "Kuwait welcomes the Doha Agreement quartet, which was approved by Qatar and Saudi Arabia, Russia and Venezuela to keep oil output ceiling when in January last levels after the approval of the producing countries within the Organization [OPEC] and beyond. "
He said the good that Kuwait reaffirms its commitment to what was agreed upon in terms of installed production last month, according to the levels of 2016 and is conditional on the commitment of the co-producers from inside and outside the [OPEC]. "
He added that the State of Kuwait reaffirms its commitment to the agreement, that comes in a "framework to encourage and support efforts that are in the direction of the oil market and price stability for the benefit of producers and consumers and the economy."
He noted that Kuwait hopes that it provides a positive atmosphere supports oil prices and restore market balance, calling everyone's interest to provide market stability and balance on all other considerations.
The Minister of Energy and Industry of Qatar and Chairman of the Organization of Petroleum Exporting Countries [OPEC] Mohammed bin Saleh Al Sada said earlier on Tuesday his country's agreement with Saudi Arabia, Russia and Venezuela on a proposal to keep the ceiling of oil production in January last levels after the approval of the oil producing countries from within [ OPEC] and beyond.
He Gentlemen at a press conference after his contract today with all of Petroleum and Mineral Resources of Saudi Minister Dr. Ali Al-Naimi, Minister of Energy Alexander Novak, Minister of Petroleum and Mining Venezuelan Eulogio Antonio del Pino that such a step "to restore stability to the oil market meeting, especially since oil prices the current is not good for the economies of the world. "
The Iraqi oil ministry source told Reuters today that Iraq is ready to commit to freeze oil production in January reached levels if producers inside and outside OPEC agreement.