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. An extension will ‘‘accelerate the rebalancing of the global oil market and will contribute to the return of prices to levels acceptable for producing countries and for the petroleum industry in general.” According to Kuwait’s Oil Minister Issam Almarzooq. Kuwait supports rolling over the oil cuts, though it is too early for the Organization of Petroleum Exporting Countries to agree on an extension, he added. Global inventories stand at 280mn barrels, built up over two years, and reducing them within one or two months is not going to be easy according to Almarzooq said. He further said that he is confident that the commitment of all the countries with this agreement to cut production will bear fruit in the next few months.