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KUWAIT: Oil contracts with the United States remain
Follow - up / ... said Kuwait Petroleum Corporation, said that the oil contracts of Kuwait with US markets "remain as one of the important strategic markets.
The report pointed out that the reports issued by some economic publications on the decline of Kuwaiti crude oil exports to the US market and the analyzes included are "inaccurate reports and do not explain the repercussions of the low rate of exports between the two countries."
Kuwait has switched its route from the United States to the most attractive Asian market, which accounts for 80 percent of Kuwait's oil exports, the first time the United States has stopped buying oil from Kuwait since 1990, Bloomberg reported earlier on Monday. .
The statement, which was quoted by Kuwait News Agency, that the recent developments in the rates of production of US crude oil, has transformed the US market from the market of imported crude oil to the market exported to various countries of the world.
US oil exports exceeded 2 million barrels per day, according to the US Energy Agency.
The statement said that some of the reports referred to "lack of analysis of economic and logistical reasons accurately, nor did it explain the radical changes in the movement of oil markets, and increases in the volume of projects of Kuwaiti refineries."
Kuwait's oil production currently stands at about 2.8 million barrels per day, with its commitment to OPEC plans to maintain market stability.
The KPC statement said that the mentioned reductions of Kuwaiti crude oil exports were coordinated in a programmed manner with their customers in the US and European markets according to the common strategic interests and commensurate with the specificity of the contracts concluded with their customers around the world.
http://aynaliraqnews.com/index.php?aa=news&id22=105887
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