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's top joint military command, Khatam al-Anbiya Central Headquarters, has said that the Strait of Hormuz is closed to ships again, citing a...
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of Engl...
One person has died after two freight trains collided on a bridge in Munich in the early hours of Saturday, causing two carriages to derail and crash ...
A magnitude 5.8 earthquake struck southwest of Greece’s island of Crete on Saturday, with no immediate reports of damage....
At least seven people were killed and several others injured after two roadside bombs exploded in quick succession in northwest Pakistan on Saturday ...
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of England on Friday. The passenger trains heading to London collided at around 17:15 local time (1615 GMT).
One person has died after two freight trains collided on a bridge in Munich in the early hours of Saturday, causing two carriages to derail and crash onto the street below, German police said.
At least seven people were killed and several others injured after two roadside bombs exploded in quick succession in northwest Pakistan on Saturday (20 June), according to local police.
Paraguay kept their World Cup hopes alive with a hard-fought 1-0 victory over Türkiye, but the celebrations were tempered by a costly red card for veteran forward Miguel Almirón.
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of England on Friday. The passenger trains heading to London collided at around 17:15 local time (1615 GMT).
Morocco captain and PSG defender Achraf Hakimi will face trial in France after an appeals court ruled there was enough evidence for the case to proceed.
Israel and Hezbollah have agreed to a ceasefire, a senior U.S. official has said. Hezbollah has released a statement saying Israel must leave southern Lebanon. Israel has said it agrees to the ceasefire, but has said its armed forces won't leave Lebanon and will resume hostilities if attacked.
Paraguay kept their World Cup hopes alive with a hard-fought 1-0 victory over Türkiye, but the celebrations were tempered by a costly red card for veteran forward Miguel Almirón.
U.S. President Donald Trump sought a deal with Iran "out of deperation," Iranian Supreme Leader Mojtaba Khamenei has said, in a statement on social media. Khamenei added that he himself "held a different view," to Trump, but allowed the agreement after receiving assurances from Iran's President.
Media leaders from across Europe gathered in Vienna this week for the annual European Publishing Congress.
Amazon founder Jeff Bezos has said artificial intelligence will ultimately lead to labour shortages rather than widespread unemployment, pushing back against growing fears that AI will replace human workers.
French department store BHV and online fast-fashion retailer Shein have ended their partnership, seven months after the launch of a permanent Shein shop in Paris triggered controversy and widespread criticism.
China’s retail sales fell for the first time in more than three years in May, while urban investment contracted more than expected, signaling further weakness in the world’s second-largest economy.
Macao opened the 17th International Infrastructure Investment and Construction Forum on Thursday, with officials and industry leaders highlighting the role of green and digital technologies in strengthening global infrastructure connectivity.
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