en.Wedoany.com Reported - Kuwait's average daily crude oil output rose to about 1.971 million barrels in July, up from approximately 1.65 million barrels in June. A source familiar with the matter disclosed this figure, while a spokesperson for Kuwait Petroleum Corporation (KPC) has not yet responded to the relevant numbers.

Kuwait's output rebound follows improved shipping through the Strait of Hormuz and a gradual recovery in oil exports. The country had previously cut production significantly for a period, gradually restoring output from June onward, with July continuing this trend.

The OPEC+ alliance plans to approve a new production quota increase of about 188,000 barrels per day starting in September, followed by a pause in further increases until the end of the year. This arrangement comes after the completion of unwinding voluntary cuts and is part of a review of new member quotas for 2027. Kuwait, a key OPEC+ member, sees its output increase as part of the alliance's efforts to guide a gradual return of oil supply. The market continues to focus on energy market dynamics and regional geopolitical tensions.

Saudi Arabia, Russia, Iraq, Algeria, Kazakhstan, and Oman are also gradually raising their production quotas to restore supply to the market and maintain stability.

Kuwait is the fifth-largest oil producer within OPEC, with proven oil reserves of approximately 101.5 billion barrels, accounting for about 6% of global reserves. Oil revenue is the main source of government income and exports. Kuwait Petroleum Corporation previously announced that the country's production capacity has reached 3.2 million barrels per day, the highest level in over a decade, enabling it to flexibly increase output in line with OPEC+ decisions.

Kuwait is also implementing a long-term capacity expansion plan, aiming to raise capacity to about 4 million barrels per day by 2035 through new investments in the oil sector and infrastructure.