Qatar and Kuwait Restore 70% of Pre-War Oil Exports Through Hormuz
Qatar and Kuwait have increased their crude oil exports through the Strait of Hormuz to approximately 70% of pre-war levels, according to anonymous traders speaking with Bloomberg. Both countries initially struggled during the Middle East conflict due to a lack of alternative shipping routes but began using ship-to-ship (STS) transfers in the Gulf of Oman starting around June. This development adds to efforts by Saudi Arabia and the UAE to maintain oil exports through Hormuz or via alternate routes, including dark mode operations. The combined effect has raised total flows at the Strait from about 4 million barrels per day in mid-July to approximately 7-8 million bpd today. These under-the-radar strategies have helped stabilize crude prices despite ongoing geopolitical tensions and reduced export volumes compared to pre-crisis levels.
Topics: Middle East conflict oil exports ship-to-ship transfers Strait of Hormuz