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Kuwait Petroleum Corporation (KPC) estimated $70 per barrel of Kuwait oil for fiscal year 2024/2025, starting in April. The price is subject to considerations by the Ministry of Finance as the state budget is still under revision. Kuwait priced oil at $70 in 2023/2024, marked as a decrease from the $80 point during 2022/2023. The price reflects the production of barrels per day, as the Ministry of Oil indicated Kuwait’s will to comply with OPEC+’s decision of only producing 2.413 million barrels per day. 

Kuwait Petroleum Corporation sets $70 per barrel estimate for fiscal 2024/’25 budget

Kuwait Petroleum Corporation (KPC) estimated $70 per barrel of Kuwait oil for fiscal year 2024/2025, starting in April. The price is subject to considerations by the Ministry of Finance as the state budget is still under revision. Kuwait priced oil at $70 in 2023/2024, marked as a decrease from the $80 point during 2022/2023. The price reflects the production of barrels per day, as the Ministry of Oil indicated Kuwait’s will to comply with OPEC+’s decision of only producing 2.413 million barrels per day. 

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