الكويت: التنسيق بين الدول المنتجة للنفط يعزز قدرة السوق على مواجهة التحديات

Kuwaiti Oil Minister Tareq Al-Roumi affirmed Kuwait's belief in the importance of coordination among oil-producing countries in facing the rapid changes in energy markets, which contributes to enhancing the market's ability to deal with various challenges during the past period.

Review of Indicators

The minister stated in a press release issued by the Ministry of Oil, following his chairing of the Kuwaiti delegation participating in the meeting of the seven countries involved in the voluntary production cut exit agreement held via video conferencing, that the meeting comes as part of the ongoing coordination to monitor developments in the global oil market and review the indicators related to supply and demand, which supports market stability and enhances supply reliability.

Building Trust

He explained that the meeting is a continuation of implementing the decision to exit the voluntary production cut agreement and increase total production, in line with a gradual and balanced approach according to the needs of the oil market.

He noted that the total increase for the seven countries participating in the exit agreement will be 188,000 barrels per day for August 2026, and that Kuwait's production for August 2026 will be at 2.66 million barrels per day.

He emphasized the importance of continuing dialogue and coordination to build trust in global energy markets and maintain their stability during the upcoming phase.

The next meeting of the seven participating countries is scheduled for August 2, 2026.