Saudi, Kuwait Crude Output Reaches Post-Conflict High in July

Crude oil production in both Kuwait and Saudi Arabia reached its highest level since the start of the Iran conflict in July, according to Quantum Commodity Intelligence. This milestone comes as Saudi Arabia is set to resume crude loadings at its Red Sea port of Yanbu after completing repairs to its East-West pipeline.

The repair work on the East-West pipeline has been ongoing for some time and has had a significant impact on Saudi Arabia's ability to export crude oil. However, it appears that the country is making good progress in getting back up to full production levels.

It is worth noting that Saudi Arabia's efforts to reroute crude exports have pushed ship-to-ship transfers in the Gulf of Oman toward capacity limits, threatening to stretch tanker availability. This development may have significant implications for global oil markets and prices.