Kuwait’s Petroleum Corporation (KPC) CEO, Sheikh Nawaf Saud Al-Nasser Al-Sabah, welcomed Sunday OPEC plus decision to reduce the oil production aimed at maintaining the balance and stability of oil markets in light of the current challenges, stressing the corporation’s keenness to meet the demands of its customers globally.

In remarks to KUNA, Sheikh Nawaf Al-Sabah stressed Kuwait’s well-known keenness to maintain the oil market’s balance to serve the interests of the producing and consuming countries alike.

The increasing of economic risks and the expected slowdown in global economic growth led to a growing imbalance between supply and demand in the oil markets, he added.

Last week, the OPEC+ agreed to reduce oil production by two million barrels per day, starting November.

Source: Kuwait News Agency