The Kuwaiti minister for oil, Dr. Khaled Al-Fahdel, said that Kuwait has already decreased its supply of oil to international markets voluntarily before production cuts come into effect at the beginning of May, KUNA has reported.
Mr. Al-Fahdel denies claims that Kuwait had been forced into speeding up oil production cuts before the deadline, citing the allegations as unfounded. He added that a decision of this kind is sovereign and that the State of Kuwait wholeheartedly supports action and consensus amongst the other oil producing states.
Moreover, Mr Al-Fahdel notes that Kuwait has a strong background concerning adherence to previous production cuts and he calls upon the “spirit of team work to face forthcoming challenges emanating from the coronavirus impact on the global oil demand.”
Kuwait is one of five founding members of OPEC.