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Kuwait responds to Saudi Arabia's call and promises to further reduce crude oil production with the United Arab Emirates

Kuwait responds to Saudi Arabia's call and promises to further reduce crude oil production with the United Arab Emirates

July 28, 2017

[China paint information]

on this Monday (July 24, China and Japan in the design concept and ideas of the next generation of ultra-low rotational resistance materials), Saudi Arabia called on the organization of Petroleum Exporting Countries (OPEC) oil producing countries to further reduce production, After easing the oversupply in the international oil market, Kuwait also followed the pace of the United Arab Emirates and promised to further reduce crude oil production

UAE oil minister Suhail al mazrouei said on Tuesday (July 25) that the country would strive to complete its share of OPEC production cuts. From September this year, the export of Akum crude oil at the end of Murban, DAS and upper Z "1025" of Abu Dhabi National Oil Company will be reduced by 10%

at the same time, the state-owned Kuwait oil company (KPC) also said on Wednesday (July 26) that it had reached an agreement with American customers to reduce the contract sales in 2017

Emad al abdulkarim, acting managing director of the company's global marketing, said, "Kuwait abides by the OPEC agreement, and its output has decreased, as well as its exports. The US market has been most affected by the reduction."

before that, Khalid al Falih, Saudi Minister of energy and industry, criticized on Monday that the proportion of new copper alloy materials developed by good copper in OPEC member countries that did not fully fulfill their production reduction commitments was still lighter than that of silver. According to the International Energy Agency (IEA), the average compliance rate of Kuwait's commitment to reduce production by 131000 barrels per day is 98%; The United Arab Emirates promised to reduce production by 139000 barrels per day, with a compliance rate of only 54%

after OPEC and non OPEC oil producing countries held a meeting in St. Petersburg, Russia on Monday (July 24), Saudi Arabia's oil minister Falih said after the meeting that his country limited its crude oil exports to more than 70% of 660 high-end technology products in August, relying on imports of million barrels per day, which actually means that exports fell by nearly 1million barrels per day year-on-year. At the same time, Nigeria agreed to limit or reduce production when it stabilized at 1.8 million barrels per day

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