Kuwait cautiously optimistic that oil demand will improve

Kuwait’s Oil Minister Oil Mohammad Abdulatif Al-Fares called on the group to the fully comply with these cuts. (Shutterstock)

• The oil minister said the market supply/demand balance has largely improved as result of output cuts implemented by the group known as OPEC+

DUBAI: Kuwait’s Oil Minister Oil Mohammad Abdulatif Al-Fares expressed “cautious optimism” on Wednesday that the global oil demand will improve as COVID-19 vaccination programs gather pace and industrial output recovers.
Speaking ahead of a joint meeting of the Organization of Petroleum Exporting Countries and other major oil producers, he said the market supply/demand balance has largely improved as result of output cuts implemented by the group known as OPEC+, according to state news agency KUNA.
He called on the group to the fully comply with these cuts.