Oil Minister urges OPEC+ to coordinate

Oil Minister urges OPEC+ to coordinate

KUWAIT: Kuwait’s Deputy Prime Minister, Oil Minister and Minister of State for Cabinet Affairs Dr Mohammad Al-Fares on Wednesday underscored the need for cooperation and coordination among all producers to face any challenges or impacts on the supply of oil markets.

This was in a press statement issued by the Ministry of Oil after Al-Fares headed the delegation of Kuwait to the 43rd meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries and allies including Russia (OPEC+), along with the 31st ministerial meeting of OPEC+, which were held via videoconference.

OPEC+ will enter a new phase of cooperation to effectively manage the oil markets and play a greater role during the upcoming period, he said. He expressed his sincere condolences over the death of the Former Secretary General of OPEC Mohammad Barkindo – noting his time over the past years in leading the organization and the efforts he made in bringing the views of member states closer.

He congratulated the Secretary General of OPEC Haitham Al-Ghais, who assumed his duties yesterday, wishing him success on the upcoming period in supporting and encouraging cooperation among member states, as well as unifying efforts to create more stability in