The hottest Kuwait shut down 90 oil wells per day
2022-08-16- Detail
Kuwait closes 90 oil wells and reduces production by 130000 barrels per day in accordance with the OPEC agreement
Kuwait closes 90 oil wells and reduces production by 130000 barrels per day in accordance with the OPEC agreement
[China paint information]
Jamal Jaafar, CEO of Kuwait oil company (Koc), said on Saturday (December 31) that Kuwait will close 0 oil wells with no change in price from January 2017 in accordance with the previously reached crude oil production reduction agreement, The production was reduced by 130000 barrels per day to 2.75 million barrels per day
the organization of Petroleum Exporting Countries (OPEC) and non OPEC oil producing countries kept clean last month (it is best to clean after each experiment); A historic agreement was reached to jointly reduce production by 1.8 million barrels from January 1, 2017, so as to eliminate the oversupply in the crude oil market and help boost oil prices. Since OPEC reached its first production reduction agreement in eight years on November 30, oil prices have risen by about 20%
jaafar also said, "the company will take advantage of the opportunity to shut down the oil well and advance the original 2018 maintenance plan so far. 2.5 automatic experiment: all the experimental processes can be completed automatically; in. This week, two oil production centers in Burgan oilfield will enter maintenance."
Hong sung Ki, a commodities analyst at Samsung futures in Seoul, said, "obviously, oil producing countries such as Kuwait, which are closer to Saudi Arabia, are trying to implement the production reduction agreement, but the market is more worried about whether oil producing countries such as Iraq and Russia can strictly abide by the agreement to reduce production."
he also added, "once the oil price hits $60 a barrel, the increase in the number of oil wells in the United States will become the biggest factor limiting the further rise of oil prices."
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