Kuwait says oil prices will likely stay below $72 per barrel as OPEC monitors global supply trends and U.S. policy signals. The remarks come during market uncertainty fueled by new U.S. tariffs on India and possible sanctions on Russia.
"Through OPEC, we are monitoring the market in terms of supply and demand, and we are monitoring the U.S. President’s statements," Kuwait's Oil Minister Tariq Al-Roumi stated on Thursday.
Al-Roumi told reporters that oil prices are expected to stay below $72 per barrel and described the current market as healthy, with moderate demand growth.
Oil prices dipped by around 1% on Wednesday, hitting an eight-week low after Trump suggested progress in talks with Moscow, raising doubts about further U.S. sanctions.
Trump has warned that additional sanctions could be imposed if the war in Ukraine continues.
On the same day, Washington announced a 25% tariff on Indian imports, citing India’s ongoing purchases of Russian oil.
Sheikh Nawaf S. Al-Sabah, CEO of Kuwait Petroleum Corporation, confirmed that Kuwait is producing its current OPEC quota of 2.548 million barrels per day (bpd) but has the capacity to produce more if needed.
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Musician D4vd has been charged with first-degree murder over the death of a teenage girl whose dismembered remains were found inside a car linked to him, prosecutors in Los Angeles County have said.
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
President of Armenia Vahagn Khachaturyan met a senior NATO envoy in Yerevan to discuss expanding cooperation the presidential office said.
Residents displaced by Hong Kong’s deadliest fire in decades have begun returning to their damaged homes, hoping to recover belongings that survived the blaze.
Dozens of Chinese-made humanoid robots have demonstrated improvements in speed, balance and autonomous navigation after completing a half-marathon in Beijing on Sunday (19 April), in a showcase of the country’s fast-developing robotics sector.
The U.S. Navy has forcibly intercepted and boarded the Iranian cargo ship TOUSKA in the Gulf of Oman after it attempted to breach the ongoing naval blockade. President Trump confirmed that the vessel was neutralised and seized by Marines following a direct strike on its engine room.
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
Progessive Bulgaria, led by pro-Russian Eurosceptic Rumen Radev is on track to form Bulgaria’s next government, after official results showed a runaway victory for the coalition in the Balkan nation's parliamentary elections on Monday (20 April).
Secretly filmed footage from two UK laboratories has reignited debate over animal testing in drug development, after a former worker alleged that monkeys, dogs and other animals endured prolonged distress during safety trials for new medicines.
Netflix shares fell sharply on Friday after the streaming group issued a weaker-than-expected outlook and said chairman and co-founder Reed Hastings will step down from the board.
The Middle East crisis is reshaping transport choices worldwide, turning electric vehicles from a long-term climate goal into an immediate economic calculation.
China’s export growth slowed sharply in March, as the fallout from the Middle East conflict pushed up energy and shipping costs, weakening global demand and exposing risks in Beijing’s reliance on manufacturing to drive growth.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
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