{
Kuwait Petroleum Corporation

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001122334455554433221100

OPEC Plus announces oil output increase of 138000 barrels per day

OPEC+ has announced an increase in oil production by 138,000 barrels per day starting April 1, 2025, marking its first output hike since 2022. This decision, made during a virtual meeting of eight member nations, is based on positive market conditions and will be flexible to adapt to market stability.Following the announcement, oil prices fell, with Brent crude dropping 2% to below $72 a barrel. The group also committed to compensating for overproduced volumes since January 2024, with plans to complete this by June 2026.
Finance Middle East
United States Dollar Oman Oil Company S.A.O.C Kuwait Petroleum Corporation ARE RUS SAU KAZ IRQ DZA OMN KWT Show more
Finance & Economy, Market Report
06:30 04.03.2025

Kuwait plans $33 billion investment to increase oil production capacity

Kuwait Petroleum Corp. plans to invest approximately 10 billion dinars ($33 billion) over the next five years to enhance its oil production capacity. CEO Sheikh Nawaf Al-Sabah emphasized that these investments aim not only to maintain but also to grow production in response to anticipated strong demand for decades.
bloomberg.com
United States Dollar Kuwaiti Dinar Kuwait Petroleum Corporation KWT Nasser Al-Mohammed Al-Sabah
Finance & Economy, Market Report
12:24 21.11.2024
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