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Al-Fadil said in a post on Twitter, “Kuwait held marathon talks in the past days and during the meeting to create a state of consensus among member states in the hope of rebalancing the oil markets,” according to Reuters.
The “OPEC” group and the oil producers allied with it, in the framework of what is known as the “OPEC +” group, announced, on Thursday, the agreement to reduce production by 10 million barrels per day in May and June.
Black gold prices collapsed to their lowest levels in two decades due to declining demand caused by the interruption of economic activity due to the Covid-19 epidemic.
On Thursday afternoon, the major oil-producing countries, led by OPEC and Russia, led by video talks to seek agreement on a significant reduction in production.
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Al-Fadil said in a post on Twitter, “Kuwait held marathon talks in the past days and during the meeting to create a state of consensus among member states in the hope of rebalancing the oil markets,” according to Reuters.
The “OPEC” group and the oil producers allied with it, in the framework of what is known as the “OPEC +” group, announced, on Thursday, the agreement to reduce production by 10 million barrels per day in May and June.
Black gold prices collapsed to their lowest levels in two decades due to declining demand caused by the interruption of economic activity due to the Covid-19 epidemic.
On Thursday afternoon, the major oil-producing countries, led by OPEC and Russia, led by video talks to seek agreement on a significant reduction in production.
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