Kuwait sets August oil output at 2.66mn bpd

Kuwaiti Oil Minister Tareq Al-Roumi

KUWAIT CITY, July 5: Minister of Oil Tareq Al-Roumi affirmed on Sunday that the increase for the seven countries involved in the voluntary production cut exit agreement will be 188,000 barrels per day for August 2026, with Kuwait’s production for August 2026 set at 2.66 million barrels per day. The agreement comes as a continuation of the decision to exit the agreement and to increase total production to meet the needs of the oil market. This came in a statement by the Minister of Oil during his participation in the meeting of the seven countries involved in the voluntary production cut exit agreement, which was held via video conference.

The oil minister confirmed that the meeting is part of ongoing coordination to monitor developments in the global oil market and review supply and demand indicators to support market stability and enhance supply reliability. He stated that Kuwait believes in the importance of consultation and coordination among producing countries in facing the rapid changes in energy markets, noting that the ongoing cooperation has helped strengthen the market’s ability to handle different challenges in recent times.

He pointed out that the meeting comes as a continuation of implementing the decision to exit the voluntary reduction agreement and increase total production, as part of a gradual and balanced approach according to the needs of the oil market. Minister Al-Roumi also highlighted the importance of continuing dialogue and coordination to strengthen confidence in global energy markets and maintain their stability in the coming period. The meeting included an official delegation with the Governor of the State of Kuwait to OPEC, Mr. Mohammad Khidr Al- Shatti, and the national representative of the State of Kuwait to OPEC, Sheikh Abdullah Sabah Salem Al-Hamid Al-Sabah. It was decided that the next meeting of the seven participating countries will be held on Sunday, August 2, 2026. (KUNA)