Despite the ongoing oil production cuts across OPEC, Kuwait has announced plans to expand its oil and oil product tanker fleet twofold over the next 20 years to 60 vessels, the chief executive of Kuwait Petroleum Corp, Nizar al-Adsani said as quoted by S&P Platts today. The move is the latest indication that in spite of hints, the production cuts may not be in the long-term plans of all members. Several OPEC producers have production expansion plans on their agendas, most notably Iraq, OPEC’s number-two, and now Kuwait. Currently, Kuwait has 28 tankers at its disposal, of which 12 are for crude oil, 10 are for oil products, and four are LPG carriers. The remaining four are bunkering tankers. Yet, “To service KPC’s international marketing trade requirements, we will expand our fleet, especially for product carriers,” al-Adsani said at the Middle East Petroleum and Gas event in Abu Dhabi. […]