Oil companies in Qatar and Kuwait on Tuesday (December 13th) announced that they will reduce production levels from the beginning of the year, AFP reported.
The reduction -- beginning on January 1st -- comes following the recent decisions by OPEC and non-OPEC oil-producing countries to cap output.
On November 30th, Qatar, Kuwait and the UAE were among the OPEC countries which agreed to reduce output by 1.2 million bpd.
This was followed earlier this month by non-OPEC oil producing countries agreeing a cut of 558,000 bpd.
