OPEC Monitors Global Oil Trends Amid U.S.-Russia Tensions

Kuwait's oil ministry is keeping a close watch on global oil supply and demand dynamics, particularly in light of U.S. President Donald Trump's remarks on Russian oil. OPEC, under the guidance of Kuwait's oil minister Tariq Al-Roumi, is monitoring these trends keenly.

Al-Roumi anticipates that oil prices will remain below $72 per barrel, even as the market maintains a stable growth pace. This follows a slight dip in oil prices after President Trump's mention of progress with Russia, raising questions about further U.S. sanctions.

As the CEO of Kuwait Petroleum Corporation, Sheikh Nawaf S. Al-Sabah has reiterated the country's commitment to OPEC's production quota and its preparedness to expand output if necessary. Amidst these developments, OPEC+ has agreed to increase oil production by 547,000 barrels per day in September.

(With inputs from agencies.)