RIYADH: Oil prices rose for a fourth session on Thursday, with Brent at a three-week high, after the Organization of the Petroleum Exporting Countries and its allies, including Russia, known as OPEC+, agreed to cut output by about 2 million barrels per day, the largest reduction since 2020. Brent crude futures for December settlement rose 12 cents, or 0.13 percent, to $93.49
Kuwait appointed a new cabinet on Wednesday, naming Hussein Ismail as oil minister to replace Mohammed Al-Fares and reappointing finance minister Abdul Wah..
Amir calls to adhere to law, constitution as PM named kuwaittimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.com Daily Mail and Mail on Sunday newspapers.
OPEC+ should stick to its current agreement to add 400,000 barrels per day a month to output, Arab oil and energy ministers said on Sunday as they gathered in Riyadh for the 2022 International Petroleum Technology Conference (IPTC). Iraqi oil minister Ihsan Abdul Jabbar said that "for the benefit of all the energy market, OPEC+ should stay with the continuing and sustained current agreement" to avoid surprises.