Kuwait’s oil production costs have increased by nearly 12 times since 2000, but remain among the lowest in the world.
The soaring costs are eating into the Gulf emirate’s net revenues, which dipped by more than KD3 billion ($10 billion) between 2022 and 2025.
AlShall Consulting, a Kuwaiti think tank, found that from around $9.80 a barrel in the fiscal year 2021-2022, production costs in the Opec founding member swelled to around $14.60 during the 2025-2026 fiscal year, which started on April 1.
Crude production costs were only…