Kuwait will continue its voluntary oil output reduction by 128,000 bpd until the end of 2024, Minister of Oil Manaf Al-Hajri said Sunday.

This voluntary cut comes as a precautionary measure taken in coordination with the countries partaking in the OPEC+ deal on the decrease announced last April, Al-Hajri, also Minister of State for Economic Affairs and Investment and Acting Minister of State for National Assembly Affairs, added in a statement issued by the Ministry of Oil.

This reduction will be from the output level agreed upon in the 35th ministerial meeting of the OPEC held earlier in the day, Al-Hajri, also Chairman of the Board of Directors of the Kuwait Petroleum Corporation, stressed.

Source: Kuwait News Agency