Kuwait’s Belated Jodi Stats Show Crude Exports Hitting 75% Of Output

Kuwait opted to resume submitting data to the Riyadh-based Jodi organization this week. Until this week, the latest data was for October 2017, but Kuwait is now fully up to date having provided full figures up to February 2018 (except February 2015 and May 2016).

The full-year 2017 data shows that both crude exports and refining runs fell annually as Kuwait cut output in line with its Opec+ commitments. However, 2016’s crude exports of 2.13mn b/d were a record high, and so even with a 120,000 b/d (6%) year-on-year fall, the average 2.01mn b/d was still the fourth highest on record.

As for refinery intake, this fell further, by 150,000 b/d (18%) to 620,000 b/d following the end-March 2017 closure of the 200,000 b/d Shuaiba refinery ( MEES, 31 March 2017 ). The upshot is that last year for the first time, Kuwait exported 75% of the crude oil it produced. (CONTINUED - 307 WORDS)

DATA INSIDE THIS ARTICLE

chart Kuwait Crude Exports Topped 75% Of Output In 2017 Following Shuaiba Shutdown (Mn B/D)