Kuwait: Kuwait crude output tumbles in March
Latest reading: Kuwait oil output slumped to just 1.2 mbpd (million barrels per day) in March, around half the February level. This was due to the blockage of the Hormuz Strait forcing the state oil company to pause some production amid lack of domestic storage space.
Outlook: Oil production is unlikely to regain its February level until the Strait is reopened, which will weigh heavily on GDP in the near term.