The chief executive of Kuwait Petroleum Corporation reported on Tuesday that international buyers are returning to the region to pick up shipments of crude oil directly. Kuwait is now producing well over 2 million barrels per day and has restored its crude export volumes to levels seen before the war, the CEO said.
The recovery follows a period of volatility where export shipments dipped to approximately 0.8 million barrels per day in September, according to analyst Rory Johnston. While previous figures showed exports hovering around 1.1 million barrels per day, they have now reclaimed the prewar average of roughly 1.3 million barrels per day.