Kuwait crude burn levels remained near record highs in August amid curtailed fuel oil and gas availability. However, oil burn did fall substantially from July’s record levels as the tapering of Opec+ production cuts boosted gas availability for August. With temperatures cooling and electricity demand falling, Kuwait should be able to dial down crude burn volumes over the final four months of the year, freeing up more volumes for export.
2020 has been another record-breaking year for the Kuwait power sector, and peak electricity demand in August was the second highest figure on record. At 14.60GW (see chart 1) it was significantly less than July’s all-time-high 14.96GW (MEES, 25 September) but still up sharply from the year-ago figure of 14.32GW. That said, over the course of the month, total electricity generated was down slightly year-on-year from 9.11TWh to 9.07TWh. (CONTINUED - 534 WORDS)