Kuwait to keep oil market ‘well-supplied’

OPEC producer Kuwait will adhere to its oil policy aimed at keeping global markets well-supplied following the death of the Gulf Arab state’s Emir Sheikh Jaber al-Ahmad al-Sabah, Kuwaiti oil officials said yesterday.

“Kuwait’s (oil) policy will not change. It will continue to cooperate with OPEC in the interest of both producers and consumers,” an official said. “The oil sector is running as normal, both production and exports.”

Kuwait, the fourth-biggest producer in the Organisation of the Petroleum Exporting Countries, is pumping at around 2.68 million barrels per day (bpd). It controls about 10% of global oil reserves.