OPEC+’s decisions are based on oil market data and ensure the market’s stability, Kuwait’s oil ministry said in a statement on state news agency KUNA, following a meeting where the group decided to continue its existing policy.

The impact of slow global economic growth, soaring inflation and high interest rates on oil demand are a cause for “continuous caution”, oil minister Bader al Mulla said.
Source: Reuters (Reporting by Nayera Abdallah, writing by Nafisa Eltahir Editing by Gareth Jones)