Kuwait

Kuwait has increasingly fallen behind other GCC countries on a range of key metrics as its fractious political system has bedeviled investment and reform efforts. The suspension of parliament for up to four years in 2024 could create the political space to push through reforms, but is not without controversy.

State of Play

Kuwait has succeeded in reversing a drop in crude oil production capacity, and now targets 4mn b/d by 2035. An ambitious $30bn refinery upgrade program was completed in 2023 with the ramp up of the Al Zour refinery, pushing refined products exports up to record levels, but an addiction to LNG imports shows no sign of easing, while summer electricity blackouts are increasingly common.

2024 In Numbers

Crude Production	2.41	mn b/d
Crude Exports	1.18	mn b/d
Products Exports	1.2	mn b/d
Power Generation	88.88	TWh

OPEC & Global Markets

31 Oct, 2025

Featured

Kuwait Sells Prompt Crude Cargoes Following Al Zour Fire

Kuwait has been offering up to 10mn barrels of extra crude supplies after a fire at its Al Zour refinery. VLSFO and diesel exports have also been impacted.

Kuwait Crude Exports On Course For Highest Monthly Figure Since December 2023 As Al Zour Outage Hits Products^ Exports (‘000 b/d)

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NEWS IN BRIEF

Ratqa Steam Co-Generation Plans

31 Oct, 2025

Kuwait Power Gets August Relief

26 Sep, 2025

GCCIA Begins Work On Expanding Kuwait Link

1 Aug, 2025

Kuwait Increases Refining Capacity at Mina Abdullah

4 Jul, 2025

Kuwait Firms Up Offshore Exploration Plans

4 Jul, 2025

Kuwait Plans Bond Issue

27 Jun, 2025

Kuwait Power Sector Runs Out Of Capacity

20 Jun, 2025

Kuwait Downstream Merger

25 Apr, 2025

Kuwait LNG Imports (mn t/y) Rose Above 6mn t/y For The First Time In 2023, With Qatar Supplying 56% Of Volumes

Kuwait's Power Demand Hit A New All-Time Record In August (GW)

Kuwait's Oil Exports (mn b/d): Refined Products Now Account For More Than Half Of Total Volumes

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Middle East