Kuwait Eyes 4 Million Bpd Oil Production Capacity by 2035 ...Middle East

Kuwait targets to raise its oil production capacity to 4 million barrels per day (bpd) by 2035 from just over 3 million bpd now, Kuwait Petroleum Corporation’s CEO and deputy chairman, Nawaf Al-Sabah, has said. Kuwait’s cost of production remains below $10 per barrel of oil, while global oil demand will stay at about 100 million bpd by 2050, the top executive of Kuwait’s national oil company has told CNBC Arabia. Kuwait, a founding member of OPEC, is the cartel’s fifth-largest producer, behind Saudi Arabia, Iraq, Iran, and…

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