Kuwait City (HRNW)- Kuwait significantly increased its daily crude oil production in July, raising output to approximately 1.971 million barrels per day, according to figures cited by Reuters.
According to a source familiar with the matter, Kuwait’s average daily oil production stood at approximately 1.65 million barrels per day in June, before rising to 1.971 million barrels per day in July.
The data indicates a substantial month-on-month increase in Kuwait’s oil production, a development that analysts say could have important implications for the global energy market.
According to the report, Kuwait Petroleum Corporation (KPC) was approached for comment, but the state-owned oil company had not issued an official response by the time the news was published.
Energy experts say the increase in production may be aimed at improving crude oil supply in international markets and helping meet growing global energy demand.
Analysts added that global markets are closely monitoring oil production levels in the Gulf region amid ongoing geopolitical tensions in the Middle East, OPEC+ production policies, and changing global supply and demand dynamics. They noted that Kuwait’s higher output could also influence international oil prices and energy trade.
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