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. Be
Source: OilPrice.com
―
DW NOTE
Qatar and Kuwait moving 70% of pre-war volumes through a strait that has seen three transits in four days is either a navigation miracle or a definitional sleight-of-hand. The IEA still projects global supply down 4.3 million barrels per day this year, and WTI is down 27% from its peak — markets price what moves, not what's announced.