Oil Minister: Kuwait's production in October to remain at 2.676 million barrels per day
Oil Minister Tariq Al-Roumi affirmed that the current phase requires maintaining a high level of flexibility to deal with any variables that may arise in the oil market, noting that producing countries have the capacity to adjust their production levels in line with developments in the oil market once shipping activity returns to normal.
Speaking after chairing Kuwait’s delegation at the meeting of the seven countries participating in the agreement to gradually exit from voluntary production cuts within the OPEC+ alliance, held via video conferencing, Minister Al-Roumi stated that the meeting is part of the monthly follow-up on developments in the global oil market, assessing supply and demand trends, and studying the economic indicators that contribute to forming a clear vision of market conditions and needs in the coming period.
He praised the decision by the seven participating countries to maintain the required production levels (allocated production quotas) for October 2026 at the same levels set for September 2026, clarifying that Kuwait’s production in October will continue at 2.676 million barrels per day.
He emphasized the importance of preserving the security and sustainability of energy supplies and ensuring the smooth flow of tankers through strategic waterways, thereby guaranteeing the safe and regular delivery of supplies to markets and supporting the growth of industrial and economic activity globally.
He highlighted the pivotal role played by OPEC and the OPEC+ alliance in enhancing energy security and supporting the stability of global oil markets, noting Kuwait’s continued commitment to collective action and close coordination within the alliance, which contributes to achieving balance in global markets, serving the interests of producers and consumers, and supporting global economic growth.
The Kuwaiti delegation participating in the meeting included Kuwait’s Governor to the Organization of the Petroleum Exporting Countries (OPEC), Mohammed Al-Shatti, and the National Representative to the Organization, Sheikh Abdullah Sabah Al-Salem Al-Hamad Al-Sabah.
