– Kuwaiti Minister of Oil and Higher Education Minister Dr. Mohammad Al-Fares praised on Monday the agreement of the 19th meeting of the ministers of OPEC and ministers of oil-producing countries outside of OPEC’s (OPEC+) strategy of increasing production up to 400,000 barrels per day (bpd) monthly.

This came in a statement for KUNA ahead of the minister’s participation in the 43rd meeting of the Joint Ministerial Monitoring Committee (JMMC), and the 22nd OPEC+ virtual meetings.

“Continuing the work of this strategy achieves market balance and stability,” said Al-Fares.

“There are several challenges in the market of 2022 that justify the increase of production to insure its needs,” he added.

Source: Kuwait News Agency