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Breaking Posted 2 hours ago

Kuwait Eyes 2 Million Bpd Output as Hormuz Reopens

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Kuwait plans to ramp oil production from 573,000 bpd in May to 2 million bpd within a week, following the reopening of the Strait of Hormuz. KPC's CEO cited a potential return to prewar output levels within weeks once commercial shipping resumes. However, the statement preceded a collapse in U.S.-Iran talks on Friday. A sharp oil supply surge could weigh on oil-linked currencies like CAD and NOK while benefiting oil-importing economies. USD/CAD is the primary pair to watch, as falling oil prices typically pressure the Canadian dollar higher against USD. MXN pairs may also react.
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