Kuwait slashes oil output by 100,000 bpd from November

Kuwait has taken up measures to deal with a daily oil cut of 100,000 barrels began from November, Kuwait News Agency (KUNA) reported on Thursday.

Managing all the oil sectors of the Emirate, Kuwait Petroleum Corp (KPC) told KUNA that it has notified all its clients about the decision of output cut.

As a member of the Organization of Petroleum Exporting Countries (OPEC), Kuwait's production share in the cartel is around 2.247 million barrels per day (bpd) since July 2005 until the end of this month.

OPEC decided in Doha, Qatar, recently to cut oil production by 1.2 million bpd as of the total output decreases to 26.3 million bpd next month.

The new production levels will be reviewed in a meeting in the Nigerian capital, Abuja, on Dec. 14, according to KUNA.

Source: Xinhua