Kuwait Reaffirms Commitment to Oil Market Stability within OPEC+
Kuwait has reaffirmed its strong commitment to supporting the stability of the global oil market and enhancing cooperation mechanisms within the OPEC+ alliance. This commitment is part of its efforts to contribute to a sustainable balance between supply and demand in global markets.
This statement was made by Kuwait's Oil Minister, Tarek Al-Roumi, following his leadership of the Kuwaiti delegation at a meeting of the eight countries involved in the voluntary oil production cut agreement, as well as at the Joint Ministerial Monitoring Committee (JMMC) meeting, both held via videoconference as part of the OPEC+ alliance.
Minister Al-Roumi explained that these meetings are part of the regular monitoring of developments in the global oil market, reviewing production levels and the commitment of participating countries to established agreements. This process aims to enhance market stability and ensure supply security during this period.
He emphasized that the JMMC plays a crucial role in supporting transparency and overseeing the implementation of agreements, highlighting its central role in enabling member countries to adapt flexibly to rapid changes in energy markets and to mitigate extreme fluctuations.
In this context, the eight participating countries agreed to maintain production levels for March 2026, with Kuwait's production set at 2.58 million barrels per day, as part of the process of exiting the voluntary production cut agreement.
The Kuwaiti delegation included, in addition to the Oil Minister, the Governor of Kuwait at OPEC, Mohammed Al-Shatti, and the national representative of Kuwait to the organization, Sheikh Abdullah Sabah Salem Al-Humoud Al-Sabah.
This stance reflects Kuwait's ongoing commitment to supporting global energy market stability and enhancing international cooperation in addressing challenges faced by the oil market, benefiting both producers and consumers.
