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Kuwait’s oil exports edge up in March – JODI

Kuwait’s oil exports edge up in March – JODI
Kuwait’s oil output increased by 13,000 bpd year-on-year in March to 2.713 mbpd

Mubasher: Kuwait’s oil exports inched up 0.69% to 2.034 million barrels per day (mbpd) in March, compared to 2.020 mbpd for the same month a year earlier, according to the Joint Organisations Data Initiative (JODI).

The GCC nation’s oil exports rose 176,000 barrels per day (bpd) or 1.29% from 2.008 mbpd in February, data showed.

Oil output

Kuwait’s oil output increased by 13,000 bpd year-on-year in March to 2.713 mbpd from 2.700 mbpd during the corresponding month a year before.

On a monthly basis, the country’s oil production levelled up 6,000 bpd from 2.707 mbpd in February.

It is noteworthy that Kuwait owns the sixth largest international oil reserves with 101.5 billion barrels, according to a report issued previously.