Qatar and Kuwait Restore 70% of Pre-War Oil Exports Through Hormuz

Qatar and Kuwait have managed to boost their crude oil exports from the Strait of Hormuz to 70% of pre-war levels as they followed the United Arab Emirates in shuttling oil through the chokepoint and using ship-to-ship transfers in the Gulf of Oman, anonymous traders told Bloomberg on Thursday. Before the Middle East conflict, Qatar and Kuwait collectively exported about 2 million barrels per day (bpd) of crude oil via the Strait of Hormuz. They don’t have alternative routes as Saudi Arabia and the UAE do, and struggled to ship oil…