Countries to cut oil output: The Standard

Business
Kuwait and Saudi Arabia have agreed to halt oil production from the joint Al-Khafji field for one month

Kuwait and Saudi Arabia have agreed to halt oil production from the joint Al-Khafji field for one month, starting from June 1, Kuwait’s Al Rai newspaper reported on Saturday. The two countries have agreed with other members of the OPEC+ group of oil producers to cut output in a bid to reduce a glut in global supplies. Both Gulf states have also said they would make additional cuts beyond the agreed curbs.