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Kuwait backs Opec+ meeting, resumes Neutral Zone shipments with Saudi | Money

Saudi Arabia, the de-facto leader of Opec, and non-Opec Russia failed to renew that pact at a meeting in March, causing oil prices to crash by half to less than US$30 (RM130.63) a barrel for Brent crude. ― Reuters pic
Saudi Arabia, the de-facto leader of Opec, and non-Opec Russia failed to renew that pact at a meeting in March, causing oil prices to crash by half to less than US$30 (RM130.63) a barrel for Brent crude. ― Reuters pic

DUBAI, April 3 ― Kuwait supports Saudi Arabia’s invitation for a meeting between Opec and non-Opec oil producers, an informal grouping known as Opec+, to curb global oil supply and halt the oil price rout, oil minister Khaled al-Fadhel said today.

The energy ministry of non-Opec producer Azerbaijan, meanwhile, said the Opec+ meeting is planned for April 6 and will be held as a video conference, Russia’s RIA news agency reported.

The Kuwaiti minister, cited by state-news agency KUNA, also announced the resumption of crude shipments from the so-called Neutral Zone, which the country shares with Saudi Arabia, for the first time in five years.

The shipment, of about one

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