Kuwait and Qatar have increased crude shipments through the Strait of Hormuz to around 70% of their pre-war levels, helping support global oil supplies and keep prices in check.

INTELLIGENCE SUMMARY

Kuwait and Qatar have increased crude shipments through the Strait of Hormuz to around 70% of their pre-war levels, helping support global oil supplies and keep prices in check. They have been using “shuttle” operations, moving oil through the strait and transferring it to other tankers in the Gulf of Oman. Total oil flows through Hormuz have risen to roughly 7–8 million barrels per day, up from about 4 million in mid-July, despite continued risks to shipping. Source: Bloomberg