Kuwaiti oil minister denied agreement to pump more oil
(MEBG) – Speaking to the Kuwaiti Al-Aam newspaper, the country’s oil minister Shaikh Saud Nasser Al Sabah, denied on Friday that any agreement to pump more oil had been struck between Kuwait, Saudi Arabia and other Gulf producers to pump more oil into the market, with aim of immediately bringing down prices. He declared such reports as fabricated, baseless and said that are aimed creating chaos in the international oil.
In a related development, Ali Rodriguez, the president of OPEC, said he needs to meet with the Saudi Arabian oil minister before deciding whether OPEC members should increase their oil output. Rodriguez will discuss adjusting oil quotas with oil ministers during a16-days trip to the Middle East.