QatarEnergy’s crude output is typically overshadowed by the firm’s LNG production, especially as the main story in recent years has been one of fighting to offset natural declines. Crude output peaked at 810,000 b/d in 2009, but had slipped to 652,000 b/d in 2016 before Opec+ cuts pushed it down to 616,000 b/d the following year. Despite exiting the group in January 2019, output slipped below 600,000 b/d for the first time that year, and stayed there until 2023.
Qatar’s crude output bottomed out at just 551,000 b/d in 2020 as Covid-19 slashed global demand, but the recovery since then has been slow. After edging back to 583,000 b/d in 2022 it jumped up to 609,000 b/d last year thanks to gains from the offshore Al Shaheen field (see chart 1). (CONTINUED - 779 WORDS)
