Kuwait light crude output expected to rise to 250,000 bpd in 3 years

Kuwait’s production of light crude is expected to rise to 250,000 barrels per day in three years’ time and to 300,000 bpd by 2023, Ali Hussain Al-Kandari, manager of production and projects at Kuwait Oil Company said on Tuesday.

Light crude output is currently 180,000 bpd, with natural gas at 0.5 billion cubic feet, Kandari said in remarks carried by the state news agency KUNA.

Meanwhile Kuwait’s newly appointed oil minister Khaled al-Fadhel also said his country supports all efforts aimed at stabilising oil markets, KUNA reported on Tuesday.

Fadhel said Kuwait is committed to the recent OPEC, non-OPEC agreements made earlier this month, which include a production cut of around 1.2 million barrels per day for six months starting from January.