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Kuwait Says Robust Oil Demand Justifies OPEC+ Output Hikes
Global oil demand growth remains strong, underpinning the OPEC+ group’s decisions of the past months to return more supply to the market, Shaikh Nawaf Al-Sabah, chief executive of Kuwait Petroleum Corporation, told Bloomberg in an interview published on Tuesday. “It’s a market that’s been more resilient than initially expected by some traders,” the CEO of the state oil firm of one of OPEC’s biggest producers, told Bloomberg. “Therefore you’re seeing a slow but methodical and planned increase…