Kuwait and Qatar raise Hormuz crude exports to 70% of pre-conflict levels

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.