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Nur News / Baghdad
announced Kuwait, Monday, closed between 80-90 wells in order to reduce oil production, under the "OPEC" agreement to reduce supplies to support prices.
Chief Executive Officer, said in Kuwait Oil Company (government), Jamal Jaafar in a press release, that Kuwait began from the first day in the new year to cut production capacity by 130 thousand barrels per day, to a little more than the level of 2.75 million barrels per day.
Jaafar added that the company closed down over the past two days a large number of fields, ranging from 80-90 oil producing wells to complete the rest of the process of closing soon.
"The OPEC agreement will restore balance to the global oil market, and the company is committed to implementing the state's decision to support the Organization's agreement to cut production by 1.2 million barrels a day."
Members decided in the "OPEC" countries, which provide one-third of the global supply of oil, on 30 November last year, cut its oil production by about 1.2 million barrels per day to 32.5 million barrels.
A few days later, independent producers reached an agreement with the "OPEC", to cut their production by about 558 thousand barrels per day, went into effect earlier this year as well.
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