Kuwait on Jan. 25 unveiled a budget for its coming fiscal year with a breakeven crude price of $90/b and significant deficit spending, with higher expenditures eating up a significant portion of its projected increases in revenues. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The budget, released by the finance ministry, expects crude production to average 2.4 million b/d for the year starting April 1, earning an average of $45/b. That compares to 2.5 million b/d at $30/b in the 2020-21 fiscal year. Kuwait, which derives about 80% of its revenues from oil, the is currently bound by the OPEC+ supply accord with a quota of 2.329 million b/d through the end of the first quarter. The […]