Key OPEC members deny output hike reports

Key OPEC members deny output hike reports

Kuwait, Saudi Arabia and the United Arab Emirates say the alliance aims for stability on the oil market

The Kuwaiti oil minister on Tuesday denied reports that there have been discussions to increase oil production at the next OPEC+ meeting.

The KUNA news agency cited Bader Al Mulla as saying Kuwait is keen to maintain stability and balance on the oil market.

The response comes after Saudi Arabia and United Arab Emirates also denied a Wall Street Journal report claiming an output increase of 500,000 barrels per day was under discussion for the next OPEC+ meeting on December 4. The report,…