Kuwait cautiously optimistic that oil demand will improve: State News Agency

Reuters , Wednesday 31 Mar 2021

The market supply/demand balance has largely improved as result of output cuts implemented by the group known as OPEC+, according to state news agency KUNA

Kuwait
Kuwaiti oil worker talks on his radio at Mina Abdulah Oil Refinery, 50 Km South of Kuwait City. File photo AP

Kuwait's Oil Minister Oil Mohammad Abdulatif al-Fares expressed "cautious optimism" on Wednesday that the global oil demand will improve as COVID-19 vaccination programs gather pace and industrial output recovers.

Speaking ahead of a joint meeting of the Organization of Petroleum Exporting Countries and other major oil producers, he said the market supply/demand balance has largely improved as result of output cuts implemented by the group known as OPEC+, according to state news agency KUNA.

He called on the group to the fully comply with these cuts.

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