Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- OPEC ministers to review oil supply, demand - Al-Fuzai  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 11/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Kuwait News Agency (KUNA)) Kuwait's Governor in OPEC Nawal Al-Fuzai said Tuesday Oil Ministers in the oil cartel would meet in Vienna tomorrow to discuss production levels, prices, non-OPEC oil supplies and global crude oil stocks.

The meeting primarily aims at determining production levels of the Organization of Petroleum Exporting Countries for the rest of the year, Al-Fuzai told KUNA.

The oil ministers, she added, would examine a report by OPEC's Economic Committee and Secretariat about oil supply-and-demand, consumption and stocks, with the objective of "taking the appropriate decision" that guaranteed crude oil supplies with prices suitable for producers and consumers.

Al-Fuzai, also Oil Ministry's Assistant Undersecretary for Economic Affairs, voiced relief for the current oil prices.

Oil prices, she added, have kept their levels at USD 100 per barrel (pb) and sometimes rising to USD 110 pb because of geopolitical conditions in some producing countries coupled with economic growth in some industrial nations.


On Kuwait, Al-Fuzai said the country was producing 2.9 million barrels per day (bpd) and projected to increase to 3.5 million bpd next year and four million bpd in 2020.

OPEC, she said, was currently producing 30 million bpd as set by the oil ministers in December 2011.

She said the crisis between Russia and Ukraine have affected the economy of Europe thus oil demands.

Al-Fuzai meanwhile said the oil ministers would discuss the agenda of OPEC's annual seminar, due in June 2015.

Kuwait's Oil Minister and Minister of State for National Assembly Affairs Dr. Ali Al-Omair is due tin Vienna tonight.

 


Kuwait News Agency (KUNA)




  MENA News Headlines
 May 24 2016 - Dubai Courts reveals 2015s results & achievements in Annual ReportMENAFN Press
(MENAFN Press) UAE May 23, 2016– Dubai Courts has launched today (Monday, May 23, 2016) its Annual Report 2015, reflecting a significant improvement in the performance of the three courts; ...

 May 24 2016 - GCC countries need structural economic reform to retain prosperityMENAFN Press
(MENAFN Press) GCC countries must create a new economic paradigm to successfully end reliance on oil, according to accountancy and finance body ICAEW. This was the outcome of ICAEW’s ...

 May 24 2016 - Arabnet Partners with Smart Dubai to Highlight Smart Economy and Digital Business TransformationMENAFN Press
(MENAFN Press) UAE, May 23, 2016 - For the second year in a row, Smart Dubai Office is partnering with the ArabNet Digital Summit to highlight digital transformation in the public and private ...

 May 24 2016 - Al Ansari Exchange pledges AED 50 million donation to various charities in commemoration of its Golden JubileeMENAFN Press
(MENAFN Press) UAE, May 23, 2016–Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, commemorates the 50thAnniversary of its establishment. To mark the ...

 May 24 2016 - Help Pick a Festival Winner and Get Insight from 5-time Emmy Winner at New Media Film FestivalMENAFN Press
(MENAFN Press) Help Pick a Festival Winner and Get Insight from 5-time Emmy Winner at New Media Film Festival Honoring Stories Worth Telling Paul Wagner - Digital Keynote Speaker Ana Kasparian ...

 May 24 2016 - Global Heparin Cap Consumption 2016 Market Research ReportMENAFN Press
(MENAFN Press) Global Heparin Cap Consumption 2016 Market Research Report The Global Heparin Cap Consumption 2016 Market Research Report is a professional and in-depth study on the current state ...

 May 24 2016 - Global Hold The Needle Detector Consumption Analysis by Capacity, Production, Cost, Gross & RevenueMENAFN Press
(MENAFN Press) Global Hold The Needle Detector Consumption Analysis by Capacity, Production, Cost, Gross & Revenue The Global Hold The Needle Detector Consumption 2016 Market Research Report is ...

 May 24 2016 - Stealing towels from hotelsMENAFN Press
(MENAFN Press) Stealing towels from hotels Hotels are using trackers for stealing towels NORTHBROOK, ILLINOIS, USA, May 24, 2016 /EINPresswire.com/ -- In the luxury stay at hotels, the ...

 May 24 2016 - Insulin Needles Consumption 2016 Global Market Research ReportMENAFN Press
(MENAFN Press) Insulin Needles Consumption 2016 Global Market Research Report The Global Insulin Needles Consumption 2016 Market Research Report is a professional and in-depth study on the current ...

 May 24 2016 - Global Insulin Pen Consumption 2016 Market Research ReportMENAFN Press
(MENAFN Press) Global Insulin Pen Consumption 2016 Market Research Report The Global Insulin Pen Consumption 2016 Market Research Report is a professional and in-depth study on the current state of ...

more...


 





Google

Join Our Newsletter

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help