Kuwait city: Kuwaiti Minister of Oil Tareq Al-Roumi stated that the State of Kuwait is committed to supporting efforts aimed at strengthening global economic recovery and achieving oil market balance. The minister made this statement following his leadership of Kuwait's delegation at several key meetings, including the 191st OPEC Ministerial Meeting and the 63rd Joint Ministerial Monitoring Committee Meeting.
According to Kuwait News Agency, these meetings, held via videoconference, included participation from Kuwait's Governor to OPEC Mohammad Al-Shatti and Kuwait's National Representative to OPEC Sheikh Abdullah Sabah Salem Al-Humoud Al-Sabah. The minister emphasized that cooperation within the OPEC+ alliance is a crucial element for ensuring long-term stability in global energy markets.
Al-Roumi highlighted that the meetings are part of ongoing efforts to support oil market stability and monitor developments related to global economic performance. The meetings also focus on maintaining coordination among countries participating in the agreement. He noted that the meeting of the eight countries reviewed the impacts of previous voluntary adjustments, such as the planned production increase of 137,000 barrels per day for December 2025.
The discussions concluded with an agreement to maintain production levels for the first quarter of 2026, with Kuwait's production expected to reach 2.580 million barrels per day starting December. The minister also praised the approval of a mechanism developed by the Secretariat to assess countries' maximum sustainable production capacity, which will serve as a reference for the 2027 production baselines for all DoC countries.
Furthermore, Al-Roumi commended the 40th OPEC+ Ministerial Meeting's request for the OPEC Secretariat to develop a plan to convert the Charter of Cooperation framework into actionable programs, with a proposal to be presented at the 41st OPEC and non-OPEC Ministerial Meeting.