Kuwait's big plans, tricky politics
Kuwait still hopes production will rise considerably between now and the end of the decade, but must overcome a number of hurdles
DESPITE myriad difficulties, Kuwait is unmoved: it will, says the oil ministry, increase its liquids production to 4m barrels a day by 2020. Liquids, though, will be the key. The country’s authorities now say the target is to be met not by crude alone but with help from the Jurassic gasfields, to the tune of at least 300,000 b/d. The crude target now stands at 3.65m b/d, a level it will sustain for a decade. Can the market rely on the numbers? Crude production is now 2.9m b/d and, whatever the will of the ministry, Kuwait’s daunting investment climate is an obstacle to growth. Kuwait Oil Company (KOC), charged with pushing through the expansion, has had a rough go of it lately, facing battle
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
