Kuwait Oil Minister Foresees Growth Amid Global Shifts
Kuwait's Oil Minister Tariq Al-Roumi anticipates increased oil demand after the U.S. interest rate cut, especially in Asia. He also expects sanctions on Russia to influence prices positively. The Kuwait Oil Company aims for 4 million bpd capacity by 2035, with current output targeted between 80,000 and 120,000 bpd.
Kuwait's Oil Minister, Tariq Al-Roumi, expressed optimism about oil demand following the recent U.S. interest rate cut, with expectations of heightened demand particularly from Asian markets.
Al-Roumi also noted the potential positive impact on oil prices if new sanctions are imposed on Russia, as the U.S. considers fresh measures.
The Kuwait Oil Company is pushing towards a production capacity of 4 million bpd by 2035, enhancing production at the Mutriba field.
(With inputs from agencies.)
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