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2026-11-02 19:34:24
[Kuwait's October Crude Oil Production Hits Record High Since the Iran War, Unfazed by Risk of Attacks on Strait of Hormuz Shipping] ⑴ Sources revealed that Kuwait's crude oil production rose to 2.1 million barrels per day in October, a significant increase of over 330,000 barrels per day compared to September, marking the highest production level since the outbreak of the current conflict with Iran. ⑵ The number of attacks on oil tankers in the Strait of Hormuz has reached a record high, but Gulf oil-producing countries continue to increase production, indicating that they have prepared contingency plans to deal with shipping disruptions, significantly strengthening the resilience of the supply side. ⑶ Data shows that Kuwait's crude oil production in September was only 1.77 million barrels per day; two months before the war, the country's production once approached 2.6 million barrels per day, but after the outbreak of the war, exports were hindered, forcing a significant reduction in production capacity. ⑷ Export data also rebounded: crude oil exports in October rose to 880,000 barrels per day, higher than 809,000 barrels per day in September; some oil tankers shut down their navigation signals to avoid the risk of maritime attacks, making crude oil export statistics more difficult. ⑸ The Kuwait National Oil Company has not yet responded to the production increase. (6) Viewpoint: Middle Eastern oil-producing countries have withstood geopolitical disturbances and continued to release production capacity, which will continue to limit the upward potential of international oil prices; as long as there is no complete blockade of shipping through the Straits, the supply of crude oil in the Gulf will steadily recover.
