- Saudi Energy Minister Says OPEC+ Meeting’s Outcome a ‘Turning Point’
- Libya nears final stage of oil exploration bid round, NOC says
- UAE President Chairs ADNOC Board of Directors Meeting at Habshan Complex
- Trump sees $270 billion in agreements at U.S.-Saudi investment conference
- Eni plans $8 billion in new investments in Egypt over five years, CEO tells El-Sisi
- Al-Ghais: Oil Will Maintain 30% Share of Global Energy Mix Until 2050
- Kuwait Announces Discovery of New Offshore Natural Gas Field
- Algeria Appoints New Head of Sonatrach to Keep Pace with Energy Transformations
- The UAE Launches World’s Largest Combined Solar and Battery Storage Project
- QatarEnergy acquires new exploration interest offshore Egypt
Kuwaiti Oil Minister Affirms His Country’s Support for Efforts to Stabilize Global Oil Market
Kuwait News Agency (KUNA) quoted Kuwaiti Oil Minister Tareq Al-Roumi as saying he is optimistic about oil market fundamentals, noting that OPEC+ decisions are made based on market data.
Al-Roumi added that the group’s efforts aim to enhance energy security and achieve market balance, affirming Kuwait’s support for efforts to maintain global oil market stability.
His remarks came following the 61st ministerial meeting of the OPEC+ Joint Ministerial Monitoring Committee, which emphasized the importance of full compliance with oil production agreements.
Kuwaiti Oil Minister Tareq Al-Roumi affirmed that the OPEC+ alliance makes its decisions based on accurate data from global markets, emphasizing that the collective efforts of member states aim to maintain energy security and oil market stability.
The OPEC+ Joint Ministerial Committee statement emphasized that all countries’ commitment to their production quotas is vital to maintaining market balance, calling on countries that have not fully complied to submit updated compensation plans to the OPEC Secretariat by 18 August 2025.
