KUWAIT; Kuwait’s crude oil production capacity stands at 3.2 million barrels per day (bpd), oil minister Tariq Al-Roumi said in an interview with local newspaper Al Qabas, the highest assessment in more than 10 years.
The production capacities of OPEC+ member countries can be contentious because some members have pressed for higher output quotas, which are determined by each country’s capacity.
A former Kuwaiti oil minister said in 2023 that the country hopes to have a higher oil production quota when it ramps up capacity.
The United Arab Emirates, which secured a higher quota this year, is also among countries that have sought higher output, along with Iraq and Nigeria. Angola quit the producer group in 2024 after a disagreement over its production target.
Kuwait’s capacity peaked at 3.3 million bpd in 2010 before slipping below 3 million bpd. Kuwait Petroleum Corporation’s (KPC) chief executive said in January that production capacity had exceeded 3 million bpd.
A KPC executive said in 2023 that Kuwait would reach 3.2 million bpd capacity by 2025 or 2026 as part of a broader plan to boost capacity to 4 million bpd by 2035.
Eight OPEC+ members agreed on September 7 to raise output by 137,000 bpd in October, continuing the group’s policy since April of gradually increasing production after years of cuts aimed at supporting the oil market.
Under the OPEC+ agreement, Kuwait plans to raise its oil production to 2.559 million bpd from October, Al-Roumi told Al Qabas.
OPEC+ based its decision on market developments, Al-Roumi said, noting that decisions to increase production can be paused or reversed.
“This ensures flexibility in decision-making,” he said, adding that the group’s monthly meetings allow it to respond quickly to market conditions.
The minister said he was optimistic about achieving balance in the oil market.
The International Energy Agency expects consumption to grow by 740,000 bpd in 2025 and by a further 700,000 bpd in 2026.
OPEC, meanwhile, expects demand to grow by 1.3 million bpd this year and 1.4 million bpd next year.
Al-Roumi said that global oil demand is rebounding. Crude inventories, meanwhile, have fallen below the five-year average, he added.
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