Qatar and Kuwait Restore 70% of Pre-War Oil Exports Through Hormuz
Bloomberg sources said the two Gulf exporters have restored shipments to 70% of prewar levels by using shuttle services and ship-to-ship transfers.
- On Thursday, Qatar and Kuwait restored crude oil exports through the Strait of Hormuz to 70% of pre-war levels using ship-to-ship transfers in the Gulf of Oman to bypass chokepoint pressures.
- Unlike Saudi Arabia and the United Arab Emirates, these Gulf States lacked backup pipelines and struggled initially, though Saudi Arabia has maintained flows through the Red Sea and Persian Gulf routes.
- Omani Foreign Minister Badr Albusaidi met Iranian Foreign Minister Abbas Araghchi in Tehran on Tuesday to discuss a "joint temporary navigational corridor," with Gen. Hossein Mohebbi stating "results that are acceptable to both sides."
- A senior Iranian source told Reuters that an agreement has "not been finalized," while Tehran demands Washington lift sanctions and end naval blockades to restore normal conditions.
- Polymarket traders estimate a mere 34 percent chance of traffic returning to normal by December 31, as ongoing tanker projectile incidents underscore persistent dangers in the strait.
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Oil flows through the Strait of Hormuz are rising again after a July drop. Gulf states are ramping up exports despite the still-high risk to shipping, and tankers have developed a system to mitigate the risk. Some vessels make short-haul trips through the strait, then offload the oil to tankers outside the Persian Gulf that don't dare pass through the dangerous area. The increase in exports is also helping to hold down global oil prices for now.
Kuwait and Qatar Add to Growing Oil Flows Getting Through Hormuz
Kuwait and Qatar — two of the Persian Gulf’s smaller oil producers — are sending more crude through the Strait of Hormuz, adding to an increase in shipments that are keeping global prices in check.
Gulf Oil Exporters Discovered a Workaround Hack: Smaller Ships Through Hormuz, Then Cargo Transfers Outside It
Crude oil exports via the Strait of Hormuz have reached around 70% of their prewar levels, at least for Qatar and Kuwait. Qatar and Kuwait Lack ‘Back Up’ Routes Before the U.S. and Israel began strikes on Iran on February 28, the two Gulf States exported some 2 million barrels of crude per day through the busy waterway. On Thursday, traders told Bloomberg that shuttle tankers and ship-to-ship transfers outside the strait had helped them replenis…
Qatar and Kuwait add to growing oil exports through Hormuz, restoring 70% of pre-war flows
Persian Gulf oil producers Qatar and Kuwait are sending more crude oil through the Strait of Hormuz, boosting their oil exports from the vital waterway to 70% of pre-war levels.
Kuwait, Qatar Ramp Up Hormuz Oil Flows As Oman-Iran Talks Ease Supply Fears
Kuwait, Qatar Ramp Up Hormuz Oil Flows As Oman-Iran Talks Ease Supply Fears Brent crude futures fell to an intraday low of $86.22 a barrel early Thursday before recovering above $88 by 0630 ET. The benchmark is down 6.3% this week as traders unwind part of the war-risk premium amid growing optimism that renewed diplomatic efforts involving Iran, Oman and Qatar could reduce the threat of drone attacks on tankers in the critical waterway. Bloomber…
Qatar and Kuwait Restore 70% of Pre-War Oil Exports Through Hormuz
Qatar and Kuwait have managed to boost their crude oil exports from the Strait of Hormuz to 70% of pre-war levels as they followed the United Arab Emirates in shuttling oil through the chokepoint and using ship-to-ship transfers in the Gulf of Oman, anonymous traders told Bloomberg on Thursday. Before the Middle East conflict, Qatar and Kuwait collectively exported about 2 million barrels per day (bpd) of crude oil via the Strait of Hormuz. Th…
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