Kuwait’s acting oil minister Mohammed Al-Fares said that the OPEC+ decision to cut production by 2 million barrels per day will have positive ramifications on the oil markets, the state news agency reported.

“The decision places a big responsibility on us to follow up on market developments in case supply or output increases,” Al-Fares told the agency in a interview.

He asserted OPEC+ works to serve the global economy, not threaten it.
Source: Reuters (Reporting by Lilian Wagdy and Alaa Swilam Editing by Chris Reese)