EghtesadOnline: Kuwait’s $508 billion energy spending plan and the prospect for juicy profits from financing it is grabbing the attention of some of the nation’s banks.

EghtesadOnline: Oil at $50 to $55 a barrel would put producers in a “good position” with stockpiles expected to fall later this year, according to Kuwait’s Oil Minister Issam Almarzooq.

EghtesadOnline: Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that boosted prices initially on the curbs has faded.

EghtesadOnline: OPEC is urging oil suppliers outside the group to fulfill their commitments to cut output, and crude prices will rise once producers demonstrate better compliance with their agreement to clear a global glut, Kuwait’s oil minister said.

EghtesadOnline: OPEC and its partners will fulfill their implementation of a deal to cut output, having already announced 60 to 70 percent of the promised curbs, Kuwait said.

EghtesadOnline: Kuwait and Saudi Arabia agreed that any resumption of crude production from shared oil fields along their border won’t raise their output beyond limits set at an OPEC meeting last week, according to two officials familiar with the talks.