OPEC’s No.3 Already Started Cutting Oil Supply

Although the new OPEC+ agreement goes into effect on May 1, OPEC’s fourth-largest producer, Kuwait, has already started to reduce crude oil supply to international markets “sensing a responsibility responding to market conditions,” Kuwait’s Oil Minister Khaled Al-Fadhel told the official state Kuwait News Agency (KUNA) on Thursday.    OPEC and its non-OPEC partners led by Russia agreed earlier this month to reduce their combined oil production by 9.7 million bpd in May and June, in response…