Kuwait Petroleum Corporation CEO: Kuwait's current oil production is about 75% of pre-war levels; risks to passage through the Strait of Hormuz are increasing.
Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Al-Sabah said on Monday that Kuwait's current oil production is about 75% of what it was before the Iran war, as more tankers risk passing through the Strait of Hormuz. The country currently produces about 2 million barrels of oil per day, down from about 2.6 million barrels before the Iran war began in late February and Tehran blockaded the waterway. He noted that despite Iran's continued threats to shipping in the strait, the number of tankers risking passage is increasing.
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