Petroleum industry in Kuwait

The petroleum industry in Kuwait is the largest industry in the country, accounting nearly half of the country's GDP.

Kuwait's oil reserves are the sixth largest in the world and the Burgan Field is the second largest oil field.

[3] Since the government of Kuwait owns the petroleum industry, it controls a lot of the country's economy; in all, about 43 percent of the GDP.

Kuwait’s oil exports vary depending on internal needs – almost all of Kuwait’s energy is derived from oil – and on international demand and prices and production quotas fixed by the OPEC, of which Kuwait is a member.

OPEC’s quotas, however, are difficult to enforce, and Kuwait and other countries have been accused of violating them.