KUWAIT, Kuwait supports any decision taken by OPEC+ based on “consensus” among member nations, Oil Minister Dr. Mohammad Al-Fares said on Sunday.

“OPEC+ follows a well-established process in order to reach its decisions whereby, the Joint Ministerial Monitoring Committee carefully considers and deliberates on oil market data,” the minister told KUNA.

“OPEC+ follows a well-established process in order to reach its decisions whereby the Joint Ministerial Monitoring Committee (JMMC) carefully considers and deliberates on oil market data and analysis developed and presented at the time by the Joint Technical Committee (JTC) and the OPEC Secretariat, before issuing any recommendation to the OPEC and Non-OPEC Ministerial Meeting (OPEC+).” Any recommendations by the JMMC are in turn discussed during the OPEC+ meeting, in order to reach consensus decisions. As in all past occasions, all aspects related to the market conditions are carefully reviewed and all options are explored before the appropriate and collective decision is taken by the group. As always, the State of Kuwait supports the consensus within the OPEC+ group, as all options are explored, and confirms that no decisions have been reached yet with regards to the forthcoming meetings on September 1.”

Source: Kuwait News Agency