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, officials said. 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 ai

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, officials said. 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.