Stymied by political opposition to foreign oil companies, Kuwait oil officials have privately acknowledged the country won’t meet a goal of boosting oil-production capacity 25% by 2020, people familiar with the matter said. The delay throws a spotlight on the fractious politics of a rare Middle Eastern country where an elected parliament holds real power, and the constitution bans foreign ownership of natural resources. It also could affect Kuwait’s effort to expand into Asian markets during the current period of relatively low oil prices—as well as its ability to profit should the price of crude rise again. Oil exports from aging fields make up 60% of the country’s gross domestic product. Kuwait has made it a national priority to ramp up production capacity to 4 million barrels a day—from the current 3.2 million—to help it reach new markets. That would bring it on par with regional rivals like Iran, […]