May 9, 2018 / 1:08 PM / 2 months ago

Kuwait to work with OPEC, non-OPEC producers to offset any oil shortage: KUNA

DUBAI (Reuters) - Kuwaiti oil minister Bakhit al-Rashidi said on Wednesday his country will work with OPEC and non-OPEC oil producers to limit impact of any possible shortage in supplies, state news agency KUNA reported, after U.S. President Donald Trump quit a nuclear deal with Iran.

On Tuesday, Trump abandoned a nuclear deal with Iran and announced plans for the “highest level” of sanctions against the OPEC member.

On Wednesday, an OPEC source familiar with Saudi Arabia’s oil thinking told Reuters that the kingdom is monitoring the impact on the oil market from the U.S. withdrawal from the Iran nuclear deal and is ready to offset any potential shortage but it will not act alone to fill in the gap.

Reporting by Rania El Gamal; editing by Jason Neely

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