Kuwait Petroleum Corp (KPC) is coordinating with clients around the world to cut its crude supplies in line with commitments under a deal by oil producers to reduce output, state news agency KUNA reported on Sunday.
KPC stressed its keenness to support the country’s role in making the agreement to rebalance global oil markets a success.
The group of producers, known as OPEC+, has agreed to reduce output by 9.7 million barrels per day (bpd) for May and June.
Read more: Expected total global oil cuts effective May 1 amounts to more than 20 mln bpd: OPEC+
-
Coronavirus: European carmakers resume production as lockdowns ease
Volkswagen will restart production at its Wolfsburg factory in Germany on Monday, the latest of a fleet of European carmakers to take advantage of ... Coronavirus -
Coronavirus: Europe moves to ease lockdowns as new death count slows
European governments began stepping up planning for the next phase of their fight against the spread of the coronavirus, as countries at the heart of ... Coronavirus -
Coronavirus: Airbus warns employees it’s ‘bleeding cash,’ needs to quickly cut costs
Airbus SE chief Guillaume Faury warned employees that the planemaker is “bleeding cash” and needs to quickly cut costs to adapt to a radically ... Coronavirus