KUWAIT — Oil markets have witnessed a remarkable improvement recently due to the historic OPEC+ agreement said Kuwait’s Oil Minister and Acting Minister of Electricity and Water Dr. Khalid Al-Fadhil.

Al-Fashil made this statement to KUNA after participating online on Saturday in the ministerial meeting of the Organization of Petroleum Exporting Countries (OPEC). The minister indicted that there are positive signs of a relative increase and a gradual improvement in global oil demand.

Al-Fadhil affirmed that Kuwait played a prominent role n reaching this historic agreement, stressing Kuwait’s commitment to reduce its production according to the deal, which had significant impact on the improvement of the oil markets during the past weeks.

He also expected the OPEC+ meeting to result in continued cooperation among all the signatory countries of this agreement because of the countries’ common interest and the global oil industry.

On April 13, the OPEC+ group agreed to cut output by 9.7mbpd as of May 1 for an initial period of 2 months ending on June 30. — KUNA