Kuwait plans to increase crude oil exports to China to more than 600,000 barrels per day (bpd) in 2020, state news agency
KUNA reported on Saturday, citing Kuwait Petroleum Corp’s Deputy Managing Director for Global Marketing Sheikh Khalid Al-Sabah.
Tariff-hit miners, among the most exposed to the trade conflict and its implications for global growth, led losses with a 1.3% fall. Defensive plays including telecoms and utilities eked out small gains.
Global equity markets cheered news on Thursday that the United States and China had agreed to roll back tariffs on each others’ goods in a “phase one” trade deal.
Hopes were dampened, however, after Reuters reported that the plan faced internal opposition in the White House. (Reporting by Shreyashi Sanyal in Bengaluru; editing by Patrick Graham)