economy

First time in 30 years: Kuwait without crude oil exports in one month

During April, there were no crude oil exports

First time in 30 years: Kuwait without crude oil exports in one month

TL;DR

  • Kuwait exported no crude oil in April 2026, marking the first such instance in over 30 years.
  • The blockade of the Strait of Hormuz is cited as the reason for the export halt.
  • Kuwait Petroleum Corporation declared force majeure on oil exports on April 17th.
  • Production was reduced to approximately 1.2 million barrels per day by early May.
  • Oil constitutes about 50% of Kuwait's GDP and around 90% of its budget revenue.

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