The Kuwait Foreign Petroleum Exploration Co (KUFPEC) is maintaining its oil output despite the drop in crude prices and global energy demand, the state-run KUNA news agency reported on Thursday, citing acting chief executive Nawaf Al-Sabah.
The company’s output remains at an average 108,000 barrels per day, the agency quoted Al-Sabah as saying.
State-owned KUFPEC operates outside Kuwait, with exploration and production ventures in 13 countries, according to its website.
Oil prices were driven to their lowest in two decades after the spread of the #coronavirus and a market share battle between #SaudiArabia and #Russia.— Al Arabiya English (@AlArabiya_Eng) March 21, 2020
Here’s what happened:https://t.co/pJWfMQzBau pic.twitter.com/tmd1ABD0oA