Kuwait oil workers call off strike, return to work

Image
AFP Kuwait City
Last Updated : Apr 20 2016 | 10:13 AM IST
The Kuwait Oil Workers Union today called off a "total strike" and decided to return to work, hours after a fresh appeal by the acting oil minister.
"In respect for the emir and in loyalty to him... We have decided to cancel the total strike," an official statement by the union said, ending action that had given support to oil prices.
The statement said workers would go back to work at 0400 GMT.
"We trust the emir... For the protection of the rights of oil workers," said the union statement, posted on its official Twitter account.
The surprising decision came only hours after the union leaders told a press conference that they would continue their strike, having rejected all appeals.
The union leaders insisted that they would end the strike only after all their demands were met in full including the scrapping of plans to cut their wages and benefits.
The strike, which began on Sunday, slashed OPEC members' crude and natural gas production by more than half.
Kuwait's crude production dropped from 3.0 million barrels per day to just 1.5 million bpd and refining output dived to 520,000 bpd from 930,000 bpd.
Acting oil minister Anas al-Saleh called on workers in a television interview Tuesday night to return to work and start negotiations with authorities.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 20 2016 | 10:13 AM IST

Next Story