Kuwait Petroleum Corp moves to cut crude supplies in line with OPEC+ deal

Kuwait Petroleum Corp is cutting its crude supplies in line with commitments under the Opec+ deal. (File photo: AFP)

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+

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Last Update: Sunday, 26 April 2020 KSA 22:51 - GMT 19:51
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