Kuwait’s oil minister, Khaled Al-Fadhel, announced that Kuwait will support the Kingdom of Saudi Arabia’s efforts to restore stability to oil markets by cutting production by a further 80,000 barrels per day (bbl/d), according to KUNA.

This cut is in addition to the previous agreed  OPEC+ cuts  which effectively exceeded 1 million barrels per day (mmbbl/d).

Al-Fadhel expressed in a statement that the State of Kuwait welcomes joint coordination with the Kingdom of Saudi Arabia and will thus take a voluntary cut in national production.

Saudi Arabia announced that it will voluntarily cut production on top of the OPEC+ deal, amounting to a total reduction of 32% or 4.8 million barrels per day (mmbbl/d).