Tag Archives: Kuwait

Kuwait has long planned to increase its global capacity to produce oil and gas.

OPEC’s crude oil production rose by 70.000 bpd from June to stand at 32.64 million bpd in July.

All oil shipments passing through Bab Al-Mandab Strait have been suspended temporarily until navigation through the area is secure

The two countries will probably resume production on two joint oilfields in the south of Kuwait.

The development builds on discussions during a climate summit in Paris last year.

Kuwait will raise its oil production by 85.000 bopd as part of a recently reached OPEC agreement.

OPEC agreed with Russia and other oil-producing allies this month to raise output from July by about 1 million bpd.

Kuwait is planning a new heavy crude grade later this year. with a gravity of 16 API and 4.9% sulfur content.

OPEC focus on market stability and managing surpluses that have a big impact on inventories in global markets.

Iraq is the Organization of the Petroleum Exporting Countries’ second-largest producer after Saudi Arabia.