Kuwait’s minister says strong demand will drive the recovery of the oil market

Kuwait: The oil market is recovering positively due to improvements in the global economy and continued withdrawal of oil reserves, said Mohammad Alfales, Deputy Prime Minister and Minister of Oil and Minister of Electricity, Water and Sustainable Energy. rice field. The Ministry of Petroleum said in a statement yesterday that this was done by the Minister at the 37th Meeting of the Joint Ministerial Committee on Production Oversight and the 25th Ministerial Meeting of OPEC and OPEC +.

Fares also said OPEC is working hard to balance global economic growth and the oil market by making decisions based on the interests of all parties. He also praised the results of the OPEC Plus Conference following the production increase strategy since August 2021 for demonstrating market effectiveness based on monthly reviews to achieve stability. The Kuwait delegation, led by Minister Al Fares, included OPEC Governor Mohammad Al Shatti and OPEC Kuwait National Team Sheikh Abdullah Sabah Salem al Homode al Sabah. – Kuna