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Kuwait: Kuwait crude output rises in June
Latest reading: Kuwait oil output rose to 2.44 mbpd (million barrels per day) in June from 2.42 mbpd in May. The June figure was the highest since the end of 2023, buoyed by OPEC+ quota hikes. Oil production rose 0.5% year on year in June, the first month of growth in over two years.
Outlook: Oil production should pick up further going forward due to the progressive unwinding of OPEC+ quota restrictions. This should boost overall economic activity going forward, as oil is still a significant chunk of Kuwait’s economy.
