Kuwait boosts July oil output to 1.8M barrels
The International Energy Agency reported that Kuwait increased its oil production to 1.8 million barrels per day in July, up approximately 290,000 barrels daily. Meanwhile, crude oil loadings rose by over 200,000 barrels per day, reaching around 1.2 million barrels. Saudi Arabia recorded the highest increase among major regional countries, boosting its production by about 900,000 barrels daily to reach 8.2 million barrels, while its loadings remained steady at around 4.5 million barrels per day. These increases come amid disruptions in energy market supplies, with a growing gap emerging between producers' capacity to ramp up production and the transportation of crude to markets due to threats to maritime route security, impacting the actual volume of supplies reaching consumers.
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