After early delays, the pace of fire fighting in the oil fields is picking up. About 80 of Kuwait's sabotaged wells have been brought under control, and crews are now capping about three a day. At that rate, all of the 500-plus wells that are burning or spewing huge jets of oil may be choked off by yearend. By that time, Kuwait could be exporting 250,000 barrels of crude and petroleum products daily, according to OPEC Listener, a U. S.-based oil-analysis service. But it will take until 1993 to reach the prewar export level of 1.5 million barrels a day and restore Kuwait's role as a top global supplier.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- The Latest on the Political Turmoil in Zimbabwe
- Goldman Sachs Sees Four 2018 Fed Rate Hikes as U.S. Growth Gains
- Norway Oil Bosses Insist End Isn't Nigh After $35 Billion Shock
- Subways May Be the Latest Casualty of China's Crackdown on Debt
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’