Kuwait resumes crude exports after ending force majeure

The Kuwait Petroleum Corporation announced the release of shipments of crude oil for delivery in July after the lifting of the force majeure and the announcement of an increased production plan. Each shipment will consist of two million barrels, with bids closing on Tuesday, and offers remaining valid until Wednesday. Additionally, the Ministry of Oil stated that oil production will rise to two million barrels per day within a week, coinciding with the opening of the Strait of Hormuz and the resumption of commercial shipping traffic, following the lifting of all force majeure notices issued during the war. This contributed to the recovery of export levels over recent months.

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