Kuwait is one of the world’s leading oil producers. It is the fourth largest producer in Opec with its production cap of 2.72mn b/d behind only Saudi Arabia, the UAE and Iraq. All of its current production comes from state-upstream giant KOC.
With Iranian output suffering under tough US sanctions there is little prospect of the emirate being overtaken within Opec any time soon. But all is not rosy in Kuwait, which last year abandoned its long-standing 2020 production capacity target amid a fall in capacity. (CONTINUED - 1682 WORDS)