Kuwait raises crude production to 1.65 mln bpd in June, source says

Kuwait’s crude oil production jumped to 1.65 million bpd in June, up sharply from May’s 578,000 bpd—an increase of about 1.07 million bpd. The report (via a source cited by Reuters) is likely supportive of supply-side expectations but is not detailed enough to indicate broader market-wide implications.

Analysis

Kuwait’s crude oil production jumped to 1.65 million bpd in June, up sharply from May’s 578,000 bpd—an increase of about 1.07 million bpd. The report (via a source cited by Reuters) is likely supportive of supply-side expectations but is not detailed enough to indicate broader market-wide implications.