Kuwait lifts oil output to highest since start of Iran war, source says
- Kuwait's crude oil output reached 2.1 million bpd in October, its highest since the Iran war, demonstrating resilience amid regional risks
LONDON: Kuwait raised its crude oil production to 2.1 million barrels per day in October, the highest level since the outbreak of the Iran war and a rise of over 300,000 bpd from September, a person with direct knowledge of the matter told Reuters.
The increase came despite a record number of attacks on shipping in the Strait of Hormuz, adding to signs that Gulf oil producers are maintaining or increasing output as they adapt to the disruption risks.
The person asked not to be named because they were not authorised to speak publicly about Kuwaiti production.
A spokesperson for state-owned Kuwait Petroleum Corporation did not immediately respond to a Reuters request for comment.
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Kuwait’s production in September was about 1.77 million bpd, a person with knowledge of the matter told Reuters on October 2.
Production in February, before the US-Israeli war with Iran broke out, was nearly 2.6 million bpd. The start of the war in late February disrupted oil exports through the Strait of Hormuz, prompting Kuwait and other Middle East producers to cut output.
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