General

Vienna: Uncertainty loomed over what Saudi Arabia, Russia and six other key members of the OPEC+ alliance would decide on crude output in their meeting on Sunday, with analysts saying a production boost was also being considered. The meeting by the group of eight oil-producing countries known as the Voluntary Eight (V8) comes as oil prices extended losses in anticipation of excess supply in the coming months.

According to Nam News Network, the wider OPEC+ group, comprising the 12-nation Organization of the Petroleum Exporting Countries (OPEC) and its allies, had agreed in recent years to several output cuts that amounted to almost six million barrels per d…

Kuwait PM Congratulates Brazil on National Day

Kuwait city: His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah on Sunday sent a cable to President of Brazil Luiz Inacio Lula da Silva, congratulating him on his country’s National Day.

According to Kuwait News Agency, the mess…

KPC: Kuwait Oil Price Drops 26 Cents to USD 71.34 pb

Kuwait city: The price of Kuwaiti oil recorded a decline of 26 cents, settling at USD 71.34 per barrel on Friday. This decrease comes as a slight drop from the previous rate of USD 71.60 per barrel on Thursday, as reported by Kuwait Petroleum Corporat…