Tag Archives: Kuwait

Kuwait Cabinet Resigns over Oil Wealth Spending

Kuwait’s new Cabinet has resigned amid protests over a planned spending spree of the country’s oil wealth by the Assembly, which some fear would drain state coffers to the point of no return. The Cabinet’s move to resign is meant to hinder the Assembly’s attempts to push through spending bills …

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Kuwait Says Oil Buyers don’t Want to Boost Imports Next Year

Kuwait’s state energy company said customers are reluctant to increase oil imports next year, signaling that the market’s being suppressed by global economic weakness. “We’re really nervous about where demand is going over the next few months and the next year, especially if there is a recession,” Sheikh Nawaf Al-Sabah, …

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Kuwait Produces over 2.8m bpd Barrels per Day of Oil

Kuwait Petroleum Corporation’s (KPC) chief executive said on Sunday the Gulf state currently produces more than 2.8 million barrels per day of oil in accordance with its OPEC quota. Sheikh Nawaf Saud al-Sabah also said Kuwait has plans to increase crude oil production whenever the market needs it, but currently …

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