Oil production in Kuwait over the next four years will grow almost twice. This statement was made by the Director of research of the state oil company Kuwait Petroleum Corp. Abdulaziz al Attar.
Speaking at the world petroleum summit Platts in London, he said that by 2020, Kuwait is planning to raise production to 4 million barrels per day (b/d) and intends to maintain this production level until the end of 2030.
It clarifies the “Interfax”, the planned amount is a record for the country.
According to OPEC, oil production in Kuwait in March amounted to 2.77 million b/d. He added that Kuwait plans to boost refining capacity in the country to 1.4 million b/d. he expects a slow recovery in oil prices in 2016 and 2017, According to him, global demand for oil is growing faster than the supply of raw materials and oil prices gradually stabiliziruemost in the range of $40-60 per barrel, fall to $30 a barrel will be no more.
