Kuwait Says OPEC+ Meeting Key to Shaping Oil Output Policy
TEHRAN (Tasnim) – Kuwait’s oil minister said Saturday that the latest OPEC+ meeting would play a crucial role in shaping future oil production policy, according to the state news agency.
OPEC+ agreed earlier in the day to increase oil output by 411,000 barrels per day in June, marking the second consecutive month of accelerated production hikes, Reuters reported.
Kuwaiti Oil Minister Tariq Suleiman Al-Roumi said the gradual production increases could be paused or cancelled if market conditions shift.
He praised member states for their willingness to implement additional voluntary increases in June.
Al-Roumi also highlighted the determination of OPEC+ countries to fully offset any overproduction since January 2024.
In December, eight OPEC+ nations agreed to gradually unwind a 2.2 million barrels per day output cut, adding about 138,000 bpd monthly starting April 2025.
