Kuwaiti Oil Barrel Price101.45 Date:08-08-2022

& Events

(OPEC) expects an increase in global demand for oil next year by more than four million barrels per day


Today, Monday, the Organization of Petroleum Exporting Countries (OPEC) expected an increase in global oil demand in 2022 by 4.15 million barrels per day. And (OPEC) said in its monthly report that the economic recovery will be delayed a little to start during the first half of next year due to the effects of the mutated (Delta) strain of the (Corona) virus on the oil market, as the world is expected to witness a better deal with the pandemic, which will restore economic activity and movement strongly to levels Before the (Corona) crisis. And the organization continued in its report, saying that due to the consequences of this mutated strain, global demand for crude is expected to decline during the last quarter of 2021 to 99.70 million barrels per day, i.e. 110 thousand barrels per day less than expectations last month. In its report, (OPEC) stressed that the pace of global oil demand recovery is expected to be stronger now and then gradually rise from mid-2022. The (OPEC +) alliance decided in early September at its 20th ministerial meeting to continue adhering to the current production plan and to continue increasing supplies by about 400,000 barrels per day during the month of October.

of Oil Tender

Ministry of Oil Building - Oil Sector - Third Floor
Finance Department

Announcement of Exercise No.1/2022-2023

Oil Ministry Announcement of Exercise No. 2023/1-2023 The Ministry of Oil announces the offering of an internal practice for a period of 3 years, which is: Internet service provision This is in accordance with the general and specific conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from (Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department) during official working hours starting from Sunday 26/6/2022 AD, for an amount The amount of 75 Kuwaiti Dinars (seventy-five Kuwaiti Dinars) is not refundable, and the deadline for submitting bids is on Thursday 7/7/2022 AD at 2:00 pm, in the Practices Fund of the Ministry of Oil, and the bids are valid for a period of 90 days as of From the date of opening the bid envelopes, the value of the initial guarantee for this bid is 2%, and it should be valid for the duration of the bid Bid validity period, noting that the exercise is indivisible.

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