Key Market Indicators
Demand for Kuwaiti crude oil has increased 23% from December 2021 to January 2022. According to figures from 2007, this demand has dropped 1.1% on average year-on-year. Kuwait's crude oil production is set to reach 150,260 thousand tonnes of oil equivalent by 2026. This is a 0.5% increase on the 2021 figure of 144,130 thousand tonnes of oil equivalent. Since 1976, Kuwait's supply has decreased by 1.1% on average year-on-year. In 2021, Kuwait ranked ninth in the world in terms of production, with the United Arab Emirates ahead at 144,130 thousand tonnes of oil equivalent. Saudi Arabia, the United States, and Iraq respectively ranked second, third, and fourth.
