Kuwaiti Oil Minister Confirms Commitment to OPEC Decisions

Kuwaiti Oil Minister Saad Al-Barak announced that his country hopes to increase its oil production share while working to raise its crude production capacity, emphasizing that it will remain committed to the decisions of the Organization of the Petroleum Exporting Countries (OPEC). Al-Barak stated that Kuwait hopes to reach a production capacity of 3.2 million barrels per day before the end of 2024. He informed reporters that the country's desire to increase its production share within OPEC is not urgent. He said in Vienna, where he is attending an OPEC conference, "We are committed to the agreements with OPEC... We are speaking based on the market situation and many other factors."