Kuwait decides to join agreement on oil production freeze
Edited by Rhod Mackenzie / 2016-02-17 11:38:33
Kuwait has welcomed the agreement between Russia, Saudi Arabia, Qatar and Venezuela, announced on Tuesday, and is ready not to increase the production above the current level of 3 million barrels per day. This was stated by the Acting Minister of Oil of Kuwait Anas al-Saleh.
Four countries-participants of the agreement together produce about 23.75 million barrels of oil per day, which is over 25% of the world oil production. They expressed their willingness not to increase the production upon condition that other major fuel suppliers will also follow their example.
