KUWAIT IS THE TENTH LARGEST OIL PRODUCER IN THE WORLD

  • 27/09/2022

Kuwait City: Kuwait retained the 10th place in the world in the countries that produce the most oil. According to the Oil and Gas Investing News report, Kuwait will be the 10th largest oil producing country in the world in 2021. Kuwait produces an average of 2.717 million barrels per day. The figures show that Kuwait's production has decreased for the third time since 2018 in 2021.


In 2016, production reached 3.072 million barrels per day. In 2017, it decreased to 3.025 million barrels per day. In the following year, production recorded a slight recovery to 3.059 million barrels per day. But in 2019 it again decreased to 3.017 million barrels per day. Kuwait's oil and gas sector contributes 60 percent of the country's GDP. Also, the lion's share of export earnings, i.e. 95 percent, comes from this sector.

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