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Oil market able to absorb gradual increases in OPEC+ crude production


Oil market able to absorb gradual increases in OPEC+ crude production - Kuwait
Reuters
1 hr ago
DUBAI, June 1 (Reuters) - Kuwait s oil minister said on Tuesday global markets have been able to absorb the gradual oil production increases introduced by the Organization of Petroleum Producing Countries (OPEC) and its allies in May, state-run KUNA news reported.
Minister Mohammad Abdulatif al-Fares s comments came in a statement ahead of a meeting of the group, collectively known as OPEC+, KUNA added.
There are indications that life is returning to normal in many countries as vaccination programs against the coronavirus accelerate, he said, adding that there should be higher demand for crude in the second half of the year. (Reporting by Maher Chmaytelli; Editing by Jan Harvey) ....

United Arab Emirates , Maher Chmaytelli , Jan Harvey , Organization Of Petroleum Producing Countries , Petroleum Producing Countries , Mohammad Abdulatif , ஒன்றுபட்டது அரபு அமீரகங்கள் , ஜான் ஹார்வி , ஆர்கநைஸேஶந் ஆஃப் பெட்ரோலியம் ப்ரொட்யூஸிஂக் நாடுகள் , பெட்ரோலியம் ப்ரொட்யூஸிஂக் நாடுகள் ,

Kuwait fully committed to OPEC decisions -minister


Reuters
1 minute read
A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic
Kuwait oil minister Mohammad Abdulatif al-Fares confirmed on Tuesday that Kuwait is fully committed to all OPEC decisions and said oil markets will be able to absorb the gradual output increase decided by OPEC+ that started last May, the state news agency (KUNA) said, citing a ministry statement.
OPEC+ oil producers agreed on Tuesday to stick to the existing pace of gradually easing supply curbs through July, as they sought to balance expectations of a recovery in demand against a possible increase in Iranian supply. read more ....

Thomson Reuters Trust Principles , Mohammad Abdulatif , Thomson Reuters Trust , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ் , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ,