Kuwait Oil Min. Affirms Coordination Among OPEC Plus States To Ensure Market Stability

2025-10-01 03:05:44

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Oct 1 (KUNA) -- Kuwaiti Minister of Oil Tareq Al-Roumi has emphasized the importance of continued coordination among OPEC Plus countries to maintain stability on the global oil market through reaching a balance between supply and demand.
In a statement following his participation in the 62th session of the Joint Ministerial Monitoring Committee (JMMC) held today via videoconference, Minister Al-Roumi affirmed that market indicators showed a revive in market basics and growth of the global economy.
He pointed out that the Committee had reviewed the state members' crude oil production and the level of compliance with their quotas in the months of July and August.
The Committee commended the high conformity rate among state members and urged them to continue abidance with the production compensation plans to ensure a balance in supply and demand, he added.
In addition to Minister Al-Roumi, Kuwait's Governor at OPEC Mahammad Al-Shatti and Kuwait's National Representative at the organization Sheikh Abdullah Sabah Salem Al-Sabah participated in the meeting. (end)
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