Kuwait Joins Saudis, U.A.E. in Promising More OPEC Oil Cuts
- U.S. most affected as Kuwait curbs production and exports: KPC
- U.A.E. pledged to cut 10% after Saudi Arabia urged discipline
U.A.E. to Deepen Oil Output Cuts
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Kuwait joined the United Arab Emirates in promising to pump less oil after Saudi Arabia called on fellow OPEC producers to cut more supply to help curb the global glut.
Kuwait Petroleum Corp. has agreed with customers in the U.S. to reduce contractual sales volumes of oil for 2017, state-run KPC said. The announcement came a day after U.A.E. Minister of Energy Suhail Al Mazrouei said Abu Dhabi National Oil Co. would trim shipments of Murban, Das and Upper Zakum crudes by 10 percent starting in September.