Kuwait's oil stocks fall as two tankers exit Gulf, Kpler says
Kuwait's oil inventories have declined sharply as a result of two Very Large Crude Carriers (VLCCs) which exported crude through the Strait of Hormuz with their AIS transponders switched off, according to a note from data provider Kpler on Tuesday.
LONDON, June 9 (Reuters) - Kuwait's oil inventories have declined sharply as a result of two Very Large Crude Carriers (VLCCs) which exported crude through the Strait of Hormuz with their AIS transponders switched off, according to a note from data provider Kpler on Tuesday.
This marked Kuwait's first major oil exports in over two months, Kpler said, as its exports have been curbed since Iran effectively closed the strait following the start of the Iran war on February 28.
- Crude stockpiles at the Mina Al Ahmadi terminal fell by more than 7 million barrels between 29 May and 4 June, Kpler said.
- Two VLCCs entered berths at Mina Al Ahmadi between late May and early June, data from Kpler showed.
- The tankers went dark by disabling their Automatic Identification System (AIS) signals for more than a week while loading and both had previously deactivated their transponders in the Gulf of Oman, Kpler said.
- Kuwait in April had declared force majeure on shipments of crude oil and refined products after the blockade of the Strait of Hormuz.
