Kuwait: Kuwait's Oil Minister Tariq Al Roumi underscored the importance of consultation and coordination among producing countries to confront rapid shifts in global energy markets.
He added that this measure would foster the ability of domestic markets to handle both regional and international realignments.
Speaking at the meeting of the Eight OPEC+ Countries participating in Additional Voluntary Production Adjustments, Al Roumi clarified that the meeting is part of ongoing coordination to follow up on the evolving situation in global oil markets and review indicators related to demand and supply, which would ultimately support market stabilization and the reliability of supply.
The meeting approved the phased rollback of voluntary production cuts and a gradual, balanced ramp-up in output in line with oil market demand, Al Roumi highlighted.
He pointed out that total output from the eight participating countries will rise by 188,000 barrels per day in August 2026, while Kuwait's production will reach 2,660,000 barrels per day.
