Kuwait’s oil production fell by 600,000 barrels per day (bpd) in 2001 as a result of the explosion that occurred at the Rawdhatain plant, 70 kilometers outside of Kuwait City, reported the Global Investment House.
The country’s oil exports were not immediately affected by the accident as supplies were made up from reserves and production from southern and western fields. Nevertheless, US deliveries contracted by 4.55 percent in December 2001 and German and Japanese deliveries also came in well below last year.
China’s demand for Kuwaiti oil also fell short of expectations but fourth-quarter deliveries in Korea and parts of Europe offset the drops that are attributed to unseasonably warm temperatures in North American this winter and other key countries in the northern hemisphere. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
