- KUWAIT CITY: Kuwait produced around 2.9 million barrels of oil per day (bpd) in October, Kuwaiti oil minister Mohammad Al-Busairi said at a financial forum in the country’s capital.
Kuwait has not produced over 2.80 million bpd since its output peaked at 2.85 million bpd in September 2008, according to official data provided by the Joint Data Initiative (JODI), just before oil demand dipped in the global economic crisis.
Kuwait, which is among a group of Gulf OPEC producers to raise production over the last few months in part to make up for lost Libyan exports, raised its output to 2.87 million bpd in September compared to 2.8 million bpd in August, a Kuwaiti OPEC delegate said in early October.
Gulf OPEC producers Saudi Arabia, Kuwait and the United Arab Emirates boosted output after Iran and Venezuela blocked a Saudi-led proposal to increase output targets at OPEC’s last meeting on June 8 to make up for a lack of Libyan oil.
Saudi Arabia has since trimmed production, with a gloomy economic outlook and rising Libyan oil output dampening demand for more crude.