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oil3 400DUBAI: Kuwait produced around 3 million barrels a day (bpd) of crude oil in August, up around 600,000 bpd from July, a Kuwaiti industry source said on Sunday.

 

The increase in the OPEC member's production was mainly due to more demand from Asia, the source said. In July, Kuwait produced around 2.4 million bpd.

 

OPEC ministers agreed in mid-June they should adhere to a collective output limit of 30 million barrels per day (bpd), which would require Gulf oil producers to trim production from levels seen in early 2012. But production by Gulf states remains high.

 

Supply from the 12-member Organization of the Petroleum Exporting Countries averaged 31.53 million bpd, up from 31.30 million bpd in July, according to a Reuters survey.

 

Copyright Reuters, 2012