Kuwait says it welcomes OPEC+ cut

An Austrian soldier guards the entrance to the OPEC headquarters in Vienna, Austria. (File/AFP)

• Sheikh Nawaf said increasing economic concerns and expected slow global economic growth led to more disturbance of the balance between supply and demand

CAIRO: Kuwait welcomes OPEC+’s decision to cut oil production by two million barrels per day, Kuwait News Agency said on Sunday, quoting Kuwait Petroleum Corporation’s CEO.
Sheikh Nawaf Saud Al-Nasser Al-Sabah also reiterated Kuwait was keen on maintaining balance in oil markets for the benefit of both consumers and producers.
He said increasing economic concerns and expected slow global economic growth led to more disturbance of the balance between oil supply and demand.