Kuwait's nonoil growth strengthened to estimated 3 percent in 2019, propelled by government and consumer spending.

Kuwait GDP growth to about 0.7 percent in 2019 from 1.2 percent in 2018.

"This agreement extends Qatar's long standing LNG supply relationship with Kuwait well into the 2030's and highlights our commitment to meeting Kuwait's LNG requirements," Saad al-Kaabi, minister of state for energy affairs and the CEO of Qatar Petroleum, said in a statement

Saudi Arabia and Kuwait signed an agreement Tuesday to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement, officials said.

Kuwait reported oil revenue of $60.7bn for the 2018 fiscal year ending March 31, 2019, according to state news agency KUNA. This is a 24% increase from the previous year. Its non-oil revenue also grew 24% to hit $6.9bn.

Boosting heavy crude output is a major part of the country's 2040 oil production strategy. Kuwait plans to increase overall oil production capacity to 4.75mbpd by 2040, up from its current capacity of 3.15mbpd.

Kuwait's growth has resumed, and the current account rebounded thanks to higher oil prices. Hydrocarbon output rose by 1.2 percent in 2018 after contracting a year earlier. Buoyed by a rebound in confidence and government spending, non-oil growth has accelerated to 2.5 percent.

IMF - Kuwait's growth is expected to strengthen. The mission has assumed an average oil price of US$57 per barrel in 2019–20, increasing to US$60 per barrel over the medium term. As capital project implementation accelerates, non-oil growth is projected to increase to about 3.5 percent in 2020. The recent OPEC decision to cut production is expected to hold oil output to 2 percent growth in 2019, which could rebound to 2.5 percent in 2020 given the spare capacity. Inflation is expected to rise in 2019–20 to about 2.5 percent as the deflationary factors in 2018 unwind.

PLATTS - Kuwait's crude oil production currently stands at 2.8 million b/d, the country's oil minister Bakheet al-Rashidi said Wednesday, up about 90,000 b/d from June levels.

AOG - Kuwait plans to invest $113bn over the next five years to enhance oil exploration and production activities both inside and outside the country