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.
Iran and Israel said on Monday (8 June) they had halted attacks on each other following an appeal from U.S. President Donald Trump, as Axios reported...
The results of the Armenian parliamentary elections pose no specific obstacles to the signing of a peace deal between Armenia and Azerbaijan, a foundi...
Corsica has moved a step closer to getting powers to make some laws locally after a French parliamentary committee approved a draft bill which would g...
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 8 June, covering the latest developments you need to know....
Armenian Prime Minister Nikol Pashinyan's Civil Contract party has won the Armenian elections, picking up nearly half the vote. With a majority in p...
Iran and Israel said on Monday (8 June) they had halted attacks on each other following an appeal from U.S. President Donald Trump, as Axios reported that Trump had privately told Benjamin Netanyahu “be careful, or you will be on your own very soon”.
The results of the Armenian parliamentary elections pose no specific obstacles to the signing of a peace deal between Armenia and Azerbaijan, a founding member of the victorious Civil Contract party has said.
Corsica has moved a step closer to getting powers to make some laws locally after a French parliamentary committee approved a draft bill which would give the Mediterranean island more autonomy.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 8 June, covering the latest developments you need to know.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian Prime Minister Nikol Pashinyan's Civil Contract party has won the Armenian elections, picking up nearly half the vote. With a majority in parliament, Pashinyan is set for a third term as Prime Minister. But an opposition politican has said he will challenge the election results.
The results of Armenia’s parliamentary elections will determine the makeup of the National Assembly and shape the country's political direction for the foreseeable future. But in Armenia, the final result is not decided by vote percentages alone. Here's how it works.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
Barcelona is preparing to mark a historic milestone in the legacy of architect Antoni Gaudí as Pope Leo XIV visits the city this week to inaugurate the Tower of Jesus Christ at the Sagrada Família basilica, almost exactly 100 years after the visionary architect’s death.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
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