OPEC member Kuwait's oil production is averaging 3.0 million barrels a day, a senior official said Monday, an output level it has kept up for the past seven months.
OPEC member Kuwait's oil production is averaging 3.0 million barrels a
day, a senior official said Monday, an output level it has kept up for the past
seven months.
"
Kuwait
is
producing at an average of three million barrels a day... This is (almost) the
production capacity but we have a spare capacity of between
150,000-200,000," head of state-owned Kuwait Oil Co. Sami al-Rasheed told
reporters.
Kuwait
boosted its daily output to around three million barrels a day in September and
has maintained those levels in the face of rising global demand for crude oil.
Oil prices slid in Asian trade Monday, underpinned by weaker-than-expected
unemployment data from the U.S.
Rasheed said the Gulf emirate plans to launch seismic studies this year off the
coast of
Kuwait
City
to explore whether to go ahead with drilling operations or not.
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