Kuwait to Look at Expanding Global Oil Storage After Iran War

AI Summary

Kuwait is considering expanding its global oil storage capacity to enhance its ability to supply international markets following disruptions caused by conflict in the Persian Gulf blocking the Strait of Hormuz. This strategy aims to mitigate the risk of supply interruptions.

Kuwait will consider increasing oil storage abroad to boost its ability to supply global markets after the war in the Persian Gulf blocked flows through the Strait of Hormuz, according to the head of the state energy company’s marketing arm.