Kuwait drives up GCC crude production in August

10 September 2012

Offsets lower output in Saudi Arabia and the UAE, according to report

Production from the GCC’s three largest oil producers rose by an average of 400,000 barrels a day (b/d) in August as declines in Saudi Arabia and the UAE were offset by a sharp rise in Kuwaiti output.

According to a Reuters report, citing industry sources, Kuwait’s crude production rose 25 per cent compared with July to 2.4 million b/d, driven by increased demand from Asia.

At the same time, Saudi Arabia and the UAE cut production by 100,000 b/d to respective monthly averages of 9.7 million b/d and 2.7 million b/d.

The three Opec members accounted for more than 28 per cent global production in 2011, according to statistics released by UK-based energy group BP.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications