Kuwait to raise oil output by 85,000 bpd — energy minister

Kuwait to raise oil output by 85,000 bpd — energy minister:

Kuwait will raise oil output by 85,000 barrels per day (bpd)starting on Sunday, part of an agreement between OPEC and non-OPEC producers to increase production by one million bpd, Energy Minister Bakhit Al-Rashidi told a local newspaper on Saturday. “Kuwait will raise its oil production from tomorrow to 2.785 million barrels, a daily increase of 85,000 compared to May, based on last week’s production cut agreement,” Rashidi told Arabic-language daily Al-Rai. OPEC agreed with Russia and other oil-producing allies this month to raise output from July by about 1 million bpd.