Kuwait to voluntarily cut 80,000 bpd in June
It is one of several Gulf nations making additionals cuts to production to help balance the market
Kuwait has agreed to voluntarily cut an additional 80,000 barrels per day of production in June, the nation's oil minister said according to a report by the Kuwait News Agency (KUNA).
The move backs Saudi Arabia's plan to cut an extra one million barrels per day next month. The UAE has also agreed to cut an additional 100,000 bpd on top of the existing cuts agreed to in the last OPEC+ meeting.