09 Dec 2014
(MENAFN) Kuwait Petroleum, the country state oil company, said that it expects that the oil prices will remain around their current level for the barrel for the next six to seven months, The Peninsula Qatar reported.
‘I think oil prices will remain at these levels for six to seven months, around USD65 a barrel, until world economic recovery is clear or if there were any political crises or OPEC changed its production policy,’ Kuwait Petroleum Corporation Chief Executive said.
The company said that at the moment, Kuwait’s oil production has reached around 2.9 million barrels a day (bpd) of crude, while that the production level in the neutral zone, which is equally divided between Kuwait and Saudi has reached 200.000 bpd, all from the Wafra onshore field currently being operated by US oil major Chevron.
Kuwait Petroleum also said that it was still unknown when crude production from the Khafji oilfield, jointly run by Saudi Arabia and Kuwait with an output between 280.000 and 300.000 bpd, would go back online after production in it was stopped temporarily to comply with environmental rules.
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more