Kuwait has announced a timeline for resuming oil production — Reuters
Kuwait has stated that it will be able to restore approximately 70% of its oil production within six to eight weeks after the situation stabilizes and the Strait of Hormuz reopens. Officials in the country note that the pace of recovery will depend on the security situation in the region.
This was stated by Khaled Ahmad Al-Sabah, director of the Kuwait Petroleum Corporation.
According to him, it will take about another month to restore the remaining 30%.
On Tuesday, ADNOC Executive Vice President for Sales and Trading Philip Khouri stated that a full restoration of transit through the strait to pre-war levels could take until mid-2027.
Toril Bosoni, head of the oil division at the International Energy Agency, said that in the best-case scenario, recovery could take six to eight months from now if an agreement is reached.
Separately, Al-Sabah stated that KPC could restore refinery output to normal levels in about two to three weeks. According to him, KPC’s refining capacity stands at approximately 1.4 million barrels per day.
Bader Nuruddin, head of research at Vitol Bahrain, predicted on Wednesday that refineries in the Persian Gulf could ramp up utilization to about 90–95% of capacity within 40–60 days.
Reuters reports this.
As a reminder, Iran and the U.S. exchangedaccusations following the latest strikes.
The day before, U.S. President Donald Trump announced significant progress in negotiations with Tehran, noting that as part of a potential agreement, Iran could transfer its highly enriched uranium to the United States.
Iran’s Supreme Leader has bannedthe transfer of enriched uranium.
