Kuwait hopes for OPEC, non-OPEC oil coordination

The Organization of the Petroleum Exporting Countries, OPEC, headquarters in Vienna.

*The Organization of the Petroleum Exporting Countries, OPEC, headquarters in Vienna.

03 April 2016, London — Kuwait hopes that coordination among oil producers inside and outside OPEC will help to stabilize the market, acting oil minister Anas al-Saleh told reporters on Sunday.

“As long as there is coordination among the major producers in OPEC and outside OPEC, that will certainly help stabilize prices,” he said.

Saudi Arabian Deputy Crown Prince Mohammed bin Salman said on Thursday that Riyadh would not join an output freeze without the participation of Iran and other major producers, Bloomberg reported. A meeting to discuss the production freeze has been scheduled in Doha on April 17.

Asked on Sunday whether Kuwait’s position was the same as the Saudi stance, Saleh said: “We have announced our position before we will attend the meeting and see. We think that a consensus is a positive thing and will serve stability of markets.”
*Ahmed Hagagy; Andrew Torchia – Reuters

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