Oil Minister: Kuwait's Targeted Production to Remain at 2.676 Million Barrels Per Day in December
Press coverage 1 newspapers covered this event: KUNA →
Oil Minister announces Kuwait's targeted production remains unchanged within the OPEC+ agreement
Translated by Qiyas from السياسة — Original source
Seven OPEC+ countries agree to maintain September levels... with flexibility to adjust production according to market variables
Oil Minister Tariq Al-Rumai announced that the seven countries participating in the voluntary production cut-out agreement within the OPEC+ alliance have decided to keep their targeted production levels for December 2026 unchanged, at the levels set in September last year. This means Kuwait’s targeted production will remain at 2.676 million barrels per day.
In a statement issued by the Ministry of Oil, Al-Rumai said the meeting is part of the periodic follow-up on developments in the global oil market, assessing supply and demand trends and relevant economic indicators, thereby contributing to forecasting market conditions and needs in the coming period.
He emphasized the importance of maintaining the security and sustainability of energy supplies, and ensuring the safety and continuity of tanker movements through strategic waterways, which supports global market stability.
He clarified that the current stage requires high flexibility in dealing with potential market changes, noting the ability of producing countries to adjust production levels according to market developments and the requirements of achieving a balance between supply and demand.
Al-Rumai reaffirmed Kuwait’s commitment to cooperation and collective action within the OPEC+ alliance, stressing that continued coordination among participating countries enhances the effectiveness of joint decisions and supports the long-term stability of the global oil market.
The Kuwaiti delegation participating in the meeting included Kuwait’s Governor to the Organization of the Petroleum Exporting Countries (OPEC), Mohammed Al-Shatti, and Kuwait’s National Representative to the organization, Sheikh Abdullah Sabah Salem Al-Hamad Al-Sabah.
The seven countries participating in the additional voluntary cuts within the OPEC+ alliance—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—confirmed during their meeting today, Sunday, via video conferencing, their shared commitment to stabilizing global oil markets and enhancing the balance between supply and demand.
