Kuwait, Qatar Increase Crude Oil Exports Via the Strait of Hormuz, Export Levels Return to 70% of Pre-Conflict Volume

BlockBeats News, August 27th. According to foreign media reports, the two smaller oil-producing countries in the Gulf, Kuwait and Qatar, are increasing the transportation of crude oil through the Strait of Hormuz, further boosting the throughput of this waterway.

Traders revealed that before the Iran war broke out, the two countries collectively 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-producing country to resume large-scale oil exports through the Strait of Hormuz, using a method known as "ship-to-ship transfer" in the Gulf of Oman. Saudi Arabia has since joined.

Traders stated that currently between 7 to 8 million barrels of oil are transported through the Strait of Hormuz per day, higher than the level of about 4 million barrels in mid-July, equivalent to about three-quarters of pre-war levels. Vortexa stated on Monday that the oil flow transported through this waterway is close to 10 million barrels per day.