Kuwait Oil Giant Says OPEC+ Hikes Suggest Tighter Market

Kuwait’s state energy company said OPEC+’s latest super-sized supply hike and recent interactions with customers suggest persistent demand growth beyond the summer driving season.

“We’re seeing some potential tightness in the market, which gives us an opportunity to capture market share in the future,” Sheikh Nawaf Al-Sabah, chief executive officer of Kuwait Petroleum Corp., told Bloomberg TV in an interview on the sidelines of a seminar held by the Organization of the Petroleum Exporting Countries in Vienna.