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Kuwait crude oil output declines in September

October 11, 2017 1:28 PM
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Kuwait crude oil output declines in September

Mubasher: The volume of Kuwait’s crude oil produced decreased on a monthly basis by about 1,700 barrels per day (bpd) in September.

Kuwait has produced 2.700 million bpd in September compared to 2.702 million bpd in August, according to a report issued by OPEC on Wednesday.

Kuwait was ranked the fourth among other six countries that reduced their production of oil last month, the OPEC’s report noted.

Venezuela was the most oil-reducing country in September, with an output of about 51,900 bpd, followed by Algeria and the UAE with oil production of 8,500 bpd and 8,400 bpd, respectively.

As for the OPEC’s total oil production, the output increased in September due to larger supplies from Libya, Nigeria, Iraq, and Gabon.

The OPEC’s oil output increased by 88,500 bpd to total 32.75 million barrels in September.

Also read: Oil soars on tight market Monday; further hikes expected


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