Kuwait, Qatar increased exports of crude oil through the Strait of Hormuz to 70 per cent before the conflict

On 27 August, Kuwait and Qatar, two of the smaller oil-producing countries in the Persian Gulf, are increasing the volume of crude oil transported through the Strait of Hormuz, further facilitating the recovery of oil shipments from the waterway. The traders revealed that, before the outbreak of the Iranian war, the two countries had collectively exported about 2 million barrels of oil per day, and that they had now returned to 70 per cent of pre-conflict levels. The United Arab Emirates was the first Gulf oil-producing country to resume large-scale oil exports through the Strait of Hormuz, and trans-ship-to-ship in the Gulf of Oman by means of what is known as “script transportation”. It has since joined. According to traders, between 7 and 8 million barrels of oil are currently transported through the Strait of Hormuz, up from about 4 million barrels in mid-July, or about three quarters of pre-war levels. Vortexa indicated on Monday that the flow of oil transported through the waterway was close to 10 million barrels per day。