KUWAIT TO BOOST OIL PRODUCTION DESPITE LACK OF ACCORD BY OPEC

Kuwait has refused to accept a rollover of production quotas agreed upon by other members of the Organization of Petroleum Exporting Countries. In a Geneva meeting June 8-10, Kuwait chose instead to boost production 560,000 b/d above its second quarter quota. Under pressure from a newly elected parliament to increase production, Kuwaiti Oil Minister Ali Ahmed al-Baghli refused an offer by OPEC members of a 10% increase over second quarter quota to 1.76 million b/d.

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