Kuwait: Kuwait crude output remains subdued in April
Latest reading: Kuwait oil output was stable at March’s 2.42 mbpd (million barrels per day) in April. The figure was broadly in line with the country’s OPEC+ production quota and was among the lowest levels since 2021. Oil production fell 0.7% year on year in April, following March’s 0.4% fall but far less than 2024’s average decline of 6.6%.
Outlook: Oil production should pick up from April levels in May and June, as OPEC+ raised production limits for both months by more than expected. This should boost overall economic activity in Q2, as oil is still a significant chunk of Kuwait’s economy.