KUWAIT: Kuwait’s crude oil production capacity has climbed to 3.2 million barrels per day (bpd), the highest level in more than ten years, Oil Minister Tariq Al-Roumi told Al Qabas newspaper.
Kuwait’s capacity, which last peaked at 3.3 million bpd in 2010, had slipped below 3 million bpd in recent years. The latest increase aligns with Kuwait Petroleum Corporation’s long-term strategy to raise capacity to 4 million bpd by 2035.
The minister said Kuwait will lift production to 2.559 million bpd from October under the latest OPEC+ agreement, which added 137,000 bpd to group output. He stressed the alliance’s flexibility, noting production hikes could be paused or reversed depending on market conditions.
Al-Roumi expressed optimism about market stability, citing rebounding global demand and crude inventories falling below the five-year average. The International Energy Agency projects oil demand growth of 740,000 bpd in 2025 and 700,000 bpd in 2026, while OPEC forecasts stronger increases of 1.3 million bpd this year and 1.4 million bpd next year.
By Reuters
