Kuwait remains steadfast to help resolve Gulf crisis

By Huseyin Erdogan

ISTANBUL (AA) - Kuwait is working hard as a mediator to resolve the Gulf crisis between Qatar and Arab states led by Saudi Arabia, Kuwait's Oil Minister Essam Al-Marzouq said Monday in Istanbul.

"Kuwait is working as a mediator and we hope that we can achieve good results between our brotherly countries," Al-Marzouq told Anadolu Agency during the 22nd World Petroleum Congress in Istanbul, of which Anadolu Agency is the global communication partner.

The Gulf crisis erupted on June 5 when Saudi Arabia, Egypt, the United Arab Emirates (U.A.E.), Bahrain and Yemen abruptly cut diplomatic relations with Qatar, accusing it of interfering in domestic affairs of other countries in the region and supporting terrorist groups.

They also imposed a land, sea, and air blockade on Qatar.

The Qatari government has strongly rejected these accusations and stressed that the blockade was in violation of international law.

The low oil price environment that the Organization of Petroleum Exporting Countries' (OPEC) members are currently trying to bolster includes Kuwait as a member.

Al-Marzouq commented on the low oil price environment, and said, "We are all expecting an increase in oil demand in the second half of the year," which is likely to impact oil prices.

In May 25, OPEC members agreed to extend their previous agreement by nine more months to March 2018 to lower oil output. The members agreed to continue to lower oil production by 1.2 million barrels per day (bpd) down to 32.5 million bpd.

Russia agreed to cut 300,000 bpd of oil production in line with OPEC's latest accord in May 2017.

Al-Marzouq hailed the close relations between Kuwait and Turkey. "We have long term historical relations with Turkey and we have a good amount of trade with Turkey."

"We are always working to build up relations," he added.