Kuwait says to increase oil production to 2.77 mln bpd in July

Kuwait City [Kuwait], June 3: Kuwait on Thursday announced that its oil production will rise to nearly 2.77 million barrels per day (bpd) in July.
Kuwaiti Deputy Prime Minister and Oil Minister Mohammad Al-Fares made the announcement after participating in the 29th Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting held via videoconference.
Al-Fares said that Kuwait's oil production will rise to nearly 2.77 million bpd in July, based on the decision of the OPEC and its allies, a group known as OPEC+.
The minister praised the decision of OPEC+ to raise the monthly production, saying that it would contribute to enhancing the security of supplies in the oil markets.
"This means that the OPEC+ countries will recover a large part of their production quotas in the coming months, close to the levels before the outbreak of the COVID-19 pandemic at the beginning of year 2020," he said.
The OPEC+ on Thursday agreed to significantly increase oil output in July amid calls for the alliance to help contain the surging oil prices.
Source: Xinhua