DUBAI: Kuwait’s cabinet called for practical steps to address the slide in oil prices yesterday at a special session convened to examine weakening energy markets, official media in the petroleum-dependent Opec member country reported.
“They stressed the necessity of initiating practical measures to face the impact of potential further decline in prices and remedying the existing economic imbalances,” the official KUNA news agency reported, referring to officials. It did not say what the practical steps were.
Participants reviewed a report on prices submitted by Minister of Oil Ali Al Omair and senior officials at the Kuwait Petroleum Corporation, and discussed “the potential risks and implications of the drop in state revenue, the budget and on the national economy and economic plan in general”, KUNA said.
Reuters
