KUWAIT: The oil market is witnessing a positive recovery due to the improvement of global economy and the continuous oil reserves withdrawals, said Deputy Prime Minister and Minister of Oil and Minister of Electricity and Water and Sustainable Energy Mohammad Al-Fares. This came by the minister in the 37th meeting of the Joint Ministerial Committee for Monitoring Production and the 25 ministerial meeting of OPEC and OPEC+, the oil ministry said in a statement yesterday.
Fares also said that OPEC works hard in taking decisions based on the interest of all parties and ensuring the growth of the global economy and the balance of oil markets. He also praised the results of OPEC plus meeting, which follows the strategy of increasing production since August 2021, as it proved its effectiveness in the market, based on its monthly review to achieve stability. The Kuwaiti delegation, which was headed by minister Al-Fares, included the Governor of Kuwait to OPEC, Mohammad Al-Shatti, and the National Representative of Kuwait to OPEC Sheikh Abdullah Sabah Salem Al-Homoud Al-Sabah. - KUNA