Related Articles
Report
Forward article link
Share PDF with colleagues

Count on Kuwait

Kuwait thankful for cuts after missing output targets

Kuwait has temporarily dodged a bullet. Its Opec commitment for a cut of 131,000 barrels a day, to keep production beneath 2.75m b/d, has shifted scrutiny away from the country's failing plan to reach output of 4m b/d by 2020. Instead, the focus is on how and where state-run Kuwait Petroleum Corporation (KPC) will make the cuts. Its job has involuntarily become easier: KPC missed a 3m b/d production target in 2016. The confidential results of KPC's assessment of its oil wells is due in late January and will identify the wells that would benefit most from unplanned maintenance, thus stemming output. The list will not be long and will likely prioritise work at mature wells to preserve their l

Also in this section
Global oil demand - an inexact science
20 February 2017
Should you bet the house - or your company's drilling programme - on long-term forecasts for oil demand?
Mexico - opportunistic cutter
15 February 2017
Mexico will probably end up losing more oil supply in 2017 than it pledged to cut
South America's desperados
13 February 2017
Latin America's two Opec members needed the deal to cut and Venezuela will probably shed even more output than it agreed