Oil Production in Kuwait
The economy recorded an average growth rate of 2.68 million barrels per day in the decade to 2022. In 2022, the oil production was 2.70 million barrels per day, up from the 2.41 million barrels per day recorded in the prior year.
Kuwait Oil Chart
Note: This chart displays Oil Production (mn barrels per day, aop) for Kuwait from 2014 to 2023.
Source: Macrobond.
Kuwait Oil Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Oil Production (mn barrels per day, aop) | 2.69 | 2.44 | 2.41 | 2.70 | 2.59 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Kuwaiti oil projections for the next ten years from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable oil forecast available for Kuwaiti oil.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Kuwaiti oil projections.
Want to get access to the full dataset of Kuwaiti oil forecasts? Send an email to info@focus-economics.com.