Kuwait Sees Strong Oil Demand Growth; U.S. Shale Helps Meet Increased Consumption
• Global oil demand looks robust this year according to Kuwait Petroleum Corporation CEO • U.S. shale production growth has helped meet increased world oil consumption • As part of OPEC+ cuts, Kuwait has pledged to cut production by 135,000 barrels per day • Kuwait sees spare OPEC capacity as important for market stability • Kuwait plans to increase oil production capacity to 4 million barrels per day by 2035