Kuwait Says Saudi Arabia to U.A.E. Complying With Oil Cuts
- Most of Kuwait’s production cuts affected exports: OPEC Gov.
- Nigeria, Libya need more time to boost production to capacity
Crude Oil Retreats for First Time in Four Sessions
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Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Countries said.
Qatar, Kuwait and Oman are also complying, having announced cuts to customers, Nawal Al-Fezaia, Kuwait’s OPEC governor, said in an interview Monday in Kuwait City where OPEC’s Secretary General Mohammad Barkindo is scheduled to have talks on the cuts with Kuwait Oil Minister Essam Al-Marzouk and other officials.