Kuwait: Kuwait crude output recovers in July
Latest reading: Kuwait oil output rose to 1.8 mbpd (million barrels per day) in July from 1.5 mbpd in June. This was a third straight monthly increase from April’s low, but was still 25% below year-ago levels.
Outlook: Future oil production will depend heavily on the future of traffic in the Strait; if traffic normalizes, this should enable Kuwait to ramp up oil production to pre-war levels.