Oil production cut, important decision of UAE and Kuwait

The United Arab Emirates and Kuwait have decided to continue voluntary cuts in oil production in line with the quotas set at the OPEC Plus meeting.

According to foreign media, the United Arab Emirates has said that it will voluntarily continue to cut oil production by 144,000 barrels per day until the end of 2024.

In this regard, Emirati Minister of Energy Sahel Al Mazrouei says that the decline in oil production will continue until December 2024.

On the other hand, Kuwait has also announced to abide by the decisions of the OPEC Plus meeting.

In this regard, Kuwait’s Minister of Petroleum Manaf Al-Hajri says that Kuwait will voluntarily continue to reduce oil production by 128,000 barrels per day until December 2024.

Saudi Arabia’s decision to cut oil production, OPEC cuts also extended until 2024

It should be noted that earlier Saudi Arabia has also decided to reduce oil production till 2024.

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