Kuwait joins Saudi move to reduce oil supply in June with 80,000 bpd cut

Reuters , Monday 11 May 2020

(FILES) A file photo taken on September 20, 2019 a partial view of Saudi Aramco's Abqaiq oil processing plant. - Saudi Arabia's energy ministry said on May 11, 2020 it had asked oil giant Aramco to make an additional voluntary output cut of one million barrels per day starting from June to support prices. (Photo: AFP)

Kuwait joined Saudi Arabia on Monday in announcing fresh oil production cuts to be implemented in June, state news agency KUNA reported, citing Oil Minister Khaled al-Fadhel.

Kuwait will slash production by 80,000 barrels per day in June, on top of the cuts already agreed under a pact by the OPEC+ group of major oil producing countries, the agency reported al-Fadhel as saying. (Reporting by Maher Chmaytelli)

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