Kuwait Calls for a Delay

According to Kuwaiti Energy Minister Sheikh Ahmad Fahd al-Sabah, OPEC should delay a decision slashing output by one million barrels per day, in order to ease soaring oil prices. "Kuwait wants to see OPEC members continue to reduce overproduction and to delay the decision to cut one million barrels of production," the minister
told reporters .

The Organisation of Petroleum Exporting Countries (OPEC) is under pressure to postpone the decision to cut production from April 1 from 24.5 million barrels per day (bpd) to 23.5 million bpd.

In addition to the one million bpd quota cut, OPEC has said that it would slash 1.5 million bpd off excess production, bringing the total agreed cut to 2.5 million bpd.