Kuwait and Qatar are increasing crude shipments through the Strait of Hormuz, adding to the rebound in oil flows through the waterway, according to foreign media reports cited by Odaily. Traders said the two countries together exported about 2 million barrels of oil per day before the outbreak of the Iran war, and their current export volume has recovered to 70% of pre-conflict levels.
The report said the United Arab Emirates was the first Gulf producer to resume large-scale crude exports through Hormuz. It did so via a method known as "shuttle shipping," using ship-to-ship transfers in the Gulf of Oman. Saudi Arabia later joined that effort.
Traders also said about 7 million to 8 million barrels of oil are now moving out through the Strait of Hormuz each day, up from roughly 4 million barrels in mid-July. That puts current volumes at about three-quarters of pre-war levels. Vortexa said on Monday that oil flows through the route were approaching 10 million barrels per day.
Kuwait and Qatar are increasing crude shipments through the Strait of Hormuz, helping lift oil transport volumes through the key waterway, according to foreign media reports cited by Odaily.
Traders said that before the outbreak of the Iran war, the two countries together exported about 2 million barrels of oil per day. Current export volumes have recovered to 70% of pre-conflict levels.
The United Arab Emirates was the first Gulf oil producer to resume large-scale crude exports through the Strait of Hormuz. It used a method known as "shuttle shipping," carrying out ship-to-ship transfers in the Gulf of Oman. Saudi Arabia later joined in.
Traders said about 7 million to 8 million barrels of oil are now shipped out through the Strait of Hormuz each day, up from around 4 million barrels in mid-July. That is about three-quarters of pre-war levels. Vortexa said on Monday that oil flows through the waterway were close to 10 million barrels per day. (Jin10)
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