Kuwait’s July crude production jumped about 20% MoM to 1.97 mln bpd, roughly
300k bpd higher than June, the highest average level since the outbreak of the
Iran conflict, said officials. Production is several times above April lows but
remains about 20% below pre-conflict levels. Gulf producers have made limited
progress restoring flows via the Strait of Hormuz; shipping risks have
resurfaced after the US‑Iran ceasefire collapsed, though negotiations to resume
tanker transits continue. Summer air‑conditioning demand is boosting domestic
oil use across the region. After a June US‑Iran ceasefire Kuwait Oil Co’s CEO
said force majeure notices would be lifted and output was expected to recover to
2.0 mln bpd; officials said production briefly hit that level before easing back
to about 1.9 mln bpd.
