(Read the full article on TASS.RU)
OPEC + countries participating in the agreement on the reduction of oil production may revise the current terms of the deal on September 1 and abandon the previously agreed increase in production over the next few months by 400 thousand barrels per day. This was stated by the Minister of Oil and Higher Education of Kuwait, Muhammad Abdel Latif al-Fares in an interview with Reuters .
He noted that markets are slowing down, COVID-19 “has begun its fourth wave in some areas,” so caution should be exercised and conditions renegotiated. “An increase of 400,000 barrels per day may be suspended,” the minister said.
Al-Fares added that the economies of East Asia, in particular China, are still suffering from COVID-19, so you need to be careful.