By: Ahmed Allam
Cairo – Mubasher: Kuwait oil minister said that a committee of five countries was formed to monitor the production cut programme.
The committee includes three countries from OPEC: Kuwait, Algeria and Venezuela and from outside the organization: Oman and Russia, chair of OAPEC conference said.
On 30 November, OPEC agreed to cut its own production by 1.2 million barrels daily as of next January, while Russia and Non-OPEC producers agreed on reducing it by 600,000 barrel per day to decrease supply glut.
Saudi oil minister, Khalid Al Falih, appologised for not attending the conference and delegated Abdulrahman Al-Abdulkareem, deputy minister for companies.
UAE oil minister, Suhail Al Mazroui, also was not present for attend the Arab Strategy Forum Thursday.
On the sidlines of the forum, Al Mazroui said that OPEC had taken a decision and is committed to it; it is too early to talk about additional steps regarding more production cut.
Translated by: Sara Ghali
