Kuwait backs Opec call for stability

KPC still aim to produce 4 million bpd by 2020

Opec calls for oil stability.
Opec calls for oil stability.

The Kuwaiti government has announced that it intends to support Opec’s decision to achieve stability in the oil market, according to news site Zawya.

On the sideline of the two-day high-level meeting on climate change in Abu Dhabi, Al-Omair told KUNA that Kuwait will support OPEC's efforts to create a comfortable atmosphere for both oil suppliers and consumers.

He noted that his country would back OPEC's decision to keep the current oil production.
In regards to Kuwait Petroleum Corporation's (KPC) strategy to produce four million barrels per day by 2020, Al-Omair said that that the corporation was taking the necessary steps to realize this goal, noting that oil production was increasing gradually.

Meanwhile, the Abu Dhabi meeting aims at cementing measures to prevent deterioration of climate change impacts, as well as discussing the climate change summit to be held in New York next September.

The high-level meeting will feature a host of senior officials including UN Secretary General Ban Ki-moon, former US Vice-president Al Gore and Britain's ex-Prime Minister tony Blair.


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