Kuwait bows to local and global realities
Domestic politics and international demand fears dictate downward revision of production targets
During a low-key meeting in early February, Kuwait’s Supreme Petroleum Council (SPC) made a critical decision for the future of the country’s upstream oil sector, and hydrocarbons-dependent economy, that will play out over the next two decades. Last year the SPC, the government’s ultimate authority on energy matters, was considering a proposal to reduce its 2040 oil production target, to the level due to have been achieved this year, while also radically revising interim output goals downwards. This plan was nodded through at the SPC meeting and publicly confirmed by oil minister Khaled al-Fadhel shortly afterwards. That the state oil conglomerate Kuwait Petroleum Corporation’s (KPC) longst
Also in this section
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
