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Kuwait Crude Oil Exports Drop to All-Time Low

OIL

Kuwait’s crude oil exports so far in June have declined to the lowest level on record of just above 1.5mbpd according to Petro-Logistics.

  • Crude oil exports for the week ending 25 June also marked the lowest weekly level on record.
  • Exports have slowed as the country rolls out its OPEC+ production cut commitments and ramps up its Al-Zour refinery, of which two of the three units are now running.
  • Kuwait’s crude exports dropped to the lowest level in more than two years in May of just over 1.7mbpd, from around 1.95mbpd in April according to Bloomberg vessel tracking.

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