Key facts
- Kuwait's crude oil production reached 1.971 million barrels per day in July.
- Kuwait produced 1.65 million barrels per day in June.
- Kuwait produced 580,000 barrels per day in May.
- OPEC+ is unwinding its remaining production cuts.
- OPEC+ plans to increase daily production targets by 188,000 barrels.
- The increase in OPEC+ targets begins in September.
Kuwait's crude oil production saw a significant surge in July, reaching 1.971 million barrels per day. This marks a substantial increase from the 1.65 million barrels per day produced in June and the 580,000 barrels per day in May. The rise in Kuwait's output occurs as OPEC+ moves to unwind its remaining production cuts. The oil cartel aims to increase production targets by 188,000 barrels daily, a change set to take effect from September.