Kuwait Says Oil Buyers Don’t Want to Boost Imports Next Year
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The Al-Ahmadi oil complex, south of Kuwait.
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Kuwait’s state energy company said customers are reluctant to increase oil imports next year, signaling the market’s being suppressed by global economic weakness.
“We’re really nervous about where demand is going over the next few months and the next year, especially if there is a recession,” Sheikh Nawaf Al-Sabah, chief executive officer of Kuwait Petroleum Corp., said to Bloomberg TV late on Friday. “We’re talking to our customers. They’re saying that they either require the same amount of oil, or they’re asking for slightly less next year.”