Kuwait gives initial approval to increase crude exports to Egypt

Kuwait has given preliminary approval to increase crude exports to Egypt by 1 mn bbl per month, industry sources say, according to Youm7. This would mean that Egypt would import 2 mn bbl of crude each month, alongside 1.2 mn tons of petroleum products. The government’s oil and fuel purchase agreement with the Kuwait Petroleum Corporation is due to expire next month, but will likely be extended beforehand.