KUWAIT - Kuwait will continue playing a leading and responsible role in supporting initiatives aimed at enhancing oil market stability, said Kuwaiti Minister of Oil Tareq Al-Roumi Saturday.
This came in the 59th meeting of the Joint Ministerial Committee for Production Control (JMMC), which was held via video conference on Saturday, the ministry of oil stated in a press release.
"Kuwait will continue to play a leading and responsible role in supporting initiatives aimed at enhancing market stability, contributing to achieving common goals and promoting sustainable development," said Al-Roumi.
The minister affirmed that the meeting discussed the latest developments in the global oil markets, in light of the trade and economic challenges and geopolitical tensions, which require more caution and vigilance to ensure market balance and security of supplies, it added.
He also stressed that close cooperation among OPEC member states is the way to achieve sustainable stability that ensures balance and serves the goals of global economic growth.
The committee touched on crude oil production data over the past months and indicated, with appreciation, the additional voluntary adjustments in production made by the eight OPEC Plus member countries announced in April and November 2023 to support market stability.
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