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Kuwait and Qatar Increase Oil Exports via Strait of Hormuz, Reaching 70% of Pre-Conflict Levels

On August 27, the two smaller oil-producing countries in the Persian Gulf, Kuwait and Qatar, are increasing their crude oil shipments through the Strait of Hormuz, further boosting the oil transport volume in this waterway. Traders revealed that before the outbreak of the Iran war, the two countries combined exported about 2 million barrels of oil per day, and the current export volume has recovered to 70% of pre-conflict levels. The UAE was the first Gulf oil producer to resume large-scale oil exports through the Strait of Hormuz, using a method known as 'shuttle transportation' for ship-to-ship transfers in the Gulf of Oman. Subsequently, Saudi Arabia also joined in. Traders indicated that approximately 7 to 8 million barrels of oil are currently being exported daily through the Strait of Hormuz, up from about 4 million barrels in mid-July, which is roughly three-quarters of pre-war levels. Vortexa reported on Monday that the oil flow through this waterway is nearing 10 million barrels per day.

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