Kuwait has reaffirmed its full support for OPEC+ decisions aimed at stabilizing the global oil market. Oil Minister Dr. Tariq Al-Roumi made the announcement during the 61st meeting of the Joint Ministerial Monitoring Committee (JMMC), which was held virtually.
The Kuwait OPEC+ commitment remains strong, as Minister Al-Roumi emphasized that all production decisions are based on accurate market data and reliable economic indicators. He also shared optimism regarding the current oil market fundamentals and highlighted the importance of continued cooperation among OPEC+ nations.
Al-Roumi praised the collective commitment of the participating countries to the Declaration of Cooperation. This framework guides joint oil output strategies. He said the agreement plays a key role in ensuring global energy security. It supports stable growth and boosts investor confidence.
In his remarks, the Minister underlined that OPEC+ production adjustments help balance market supply and demand. This approach not only protects member states but also contributes to long-term stability in global energy prices.
The Kuwait OPEC+ commitment also reflects Kuwait’s broader strategy to maintain reliable oil exports and remain a key player in the energy sector. Kuwait’s delegation to the JMMC included OPEC Governor Mohammed Al-Shatti and National Representative Sheikh Abdullah Sabah Salem Al-Humoud Al-Sabah, both of whom support Kuwait’s active engagement in OPEC+ decisions.
During the meeting, participating nations reviewed compliance with the voluntary oil production cuts. OPEC+ urged all members to fully stick to the agreements to ensure fairness and market balance.
Meanwhile, the price of Kuwaiti crude oil dropped to $71.59 per barrel. While the decline presents short-term challenges, officials remain confident in the long-term outlook, especially with continued coordination through OPEC+ mechanisms.
The Kuwait OPEC+ commitment reflects the country’s strategic vision. Kuwait seeks to protect its economic interests while contributing to global oil market stability. This approach supports the local economy and strengthens global cooperation during uncertain energy market conditions.
As oil prices fluctuate, countries like Kuwait continue to play an essential role in managing supply and promoting transparency. The next OPEC+ review will likely further reinforce this shared mission.
