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Kuwait’s September Crude Exports Rose to 3-Month High

OIL

Kuwait’s observed crude exports in September rebounded to 1.61mbpd, up by 8% from August levels, due to a recovery in buying from China, Bloomberg tanker tracking data showed.

  • September shipments rose to the highest level in three months, after August flows had fallen to the lowest level since at least late 2016.
  • Shipments to China jumped by around 60% to at least 600kbpd, up from 382kbpd in August.
  • September shipments remained below the year-to-date average of 1.75mbpd. Kuwait’s crude shipments this year had fallen due to the ramp up of the country’s Al-Zour refinery, shifting from crude oil to refined petroleum products exports.

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