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
 Dec 28 2014 - Saudi's RCJY signs USD107.43m dealsMENAFN
(MENAFN) The Royal Commission for Jubail and Yanbu (RCJY) announced it has signed two contracts worth USD107.43 for the construction of a residential complex for the commission staff in Ras Al-Khair ...

 Dec 28 2014 - Saudi GOSI investments hit USD14.37b in 2014MENAFN
(MENAFN) The General Organization for Social Insurance (GOSI) announced that the value of its domestic investments has exceeded USD14.37 billion in 2014, which were circulated in nearly 68 companies, ...

 Dec 28 2014 - ME tourism grows strongly after slumpMENAFN
(MENAFN) After three years of decreasing figures, tourism numbers have rebounded this year, with data from a United National agency showing 4 percent growth in the first 10 months of 2014, Arabian ...

 Dec 28 2014 - Dubai's Danube invests USD81m on tower projectMENAFN
(MENAFN) Dubai's Danube Properties announced that it will be investing USD81.6 million on its affordable luxury apartment project 'Glitz by Danube', Arabian Business reported.The project will include ...

 Dec 28 2014 - Dubai's DI to invest USD2.7b on property projectsMENAFN
(MENAFN) Dubai Investments PJSC announced it has plans to invest USD2.7 billion in real-estate projects in the next five years, due to the increase in demand for property in the emirate, Gulf ...

 Dec 28 2014 - Jewish settlers storm Al Aqsa MosqueJordan News Agency
(MENAFN - Jordan News Agency)  Groups of Jewish settlers on Sunday stormed Al Aqsa Mosque yards via the Al-Magarbah Gate.The settlers toured in groups the Mosque's yards in a provocative manner under ...

 Dec 28 2014 - Public Holiday announced for Prophet Mohammad's BirthdayJordan News Agency
(MENAFN - Jordan News Agency)  All ministries, government departments and public institutions will observe a holiday on Saturday, 12 Rabi' al Awwal, 1436 Hijri corresponding to January 3, 2015, on ...

 Dec 28 2014 - Jordan to observe holiday on New Year's DayJordan News Agency
(MENAFN - Jordan News Agency)  All ministries, public departments and institutions will observe a holiday on Thursday, January 1, 2015 on the occasion of the New Year's Day, according to a ...

 Dec 28 2014 - Cold weather forecast over next two daysJordan News Agency
(MENAFN - Jordan News Agency)  A slight drop in temperatures is expected today and the weather will be cold in the hilly areas but fair in the Jordan Valley and Aqaba.According to the Jordan ...

 Dec 28 2014 - Israeli forces arrest 11 Palestinians in West BankJordan News Agency
(MENAFN - Jordan News Agency)  Israeli occupation forces on Sunday arrested 11 Palestinians from various parts of the occupied West Bank.Palestinian sources reported that the occupation forces ...

more...


 






Google

Click to Apply

 
 

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