Markets
Kuwait has begun cutting production at some oil fields, WSJ reports
- Organization of the Petroleum Exporting Countries is discussing limiting its production and refining capacity further
1 min
By
Kuwait has begun cutting production at some oil fields after running out of room to store its bottled-up crude, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The country, which is a founding member of the Organization of the Petroleum Exporting Countries is discussing limiting its production and refining capacity further, to just what it needs to cover domestic consumption, the WSJ reported.
Oil set for steepest weekly gain since 2020 as Middle East conflict spreads
Reuters could not immediately verify the report.
Read Also