Saudi energy minister holds talks with Kuwaiti counterpart

RIYADH: Saudi Minister of Energy Prince Abdul Aziz bin Salman and Mohammed Al-Fares, Kuwait’s oil minister, met in Riyadh and discussed ways in which cooperation could be enhanced in a number of energy-related fields, the Saudi Press Agency reported on Wednesday.
“The energy minister and his Kuwaiti counterpart reviewed the positive developments that were reflected in cooperation between the two countries,” according to the report.
The meeting comes a little over a year after the Kingdom and Kuwait signed a new border agreement to resume production at their shared oil fields in the neutral zone along their border. The countries also signed a memorandum of understanding (MoU) in December last year relating to procedures for resuming petroleum production “which embodied the distinguished relationship between the two countries, and pushed toward achieving the common interests of both parties.”
The ministers discussed the next steps in efforts to consolidate the successes achieved as a result of implementing the agreement and the MoU, and ways to develop them to achieve further progress in the interests of both countries.
They talked about the state of the oil market, joint cooperation between the two countries to support and maintain market stability, and their active roles within the OPEC+ agreement that has accelerated the pace of moves to rebalance the global market.
They also stressed the importance of joint action and continuing bilateral consultations in efforts to preserve the gains that have been made, and to achieve further advancements.

Saudi energy minister holds talks with Kuwaiti counterpart