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Monday, April 18, 2016

The Day After Doha -- April 18, 2016

It's my understanding that Kuwait did not support a freeze.

The Kuwaiti government has financial challenges of its own -- due to low price of oil -- and are cutting back on oil workers' pay/benefits. Those workers go on strike, threatening to take a million bopd off the global export market. ABC News is reporting:
Oil workers in Kuwait went on strike Sunday to protest proposed government cutbacks as the OPEC nation grapples with a prolonged slump in crude prices.

Thousands of workers gathered for demonstrations at the start of the local workweek in the town of Ahmadi, where the state-run Kuwait Oil Co. has its headquarters, some 40 kilometers (25 miles) south of Kuwait City.

Protesters held signs reading "Stop meddling with the rights of the oil sector workers!" and "We will not allow you to take away our rights," witnesses said.

Oil worker unions approved the strike last week after failing to reach common ground with Kuwait's Oil Ministry.
Kuwait produces, in round numbers, 3 million bopd crude oil and exports 2 million bopd. In round numbers, about 250,000 bopd of Kuwait crude oil ends up in the US



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