Kuwait pumped about 3 million barrels of oil a day last month, Farouk Al-Zanki, the chief executive of state-run Kuwait Petroleum Corp. said.
KPC has a contingency plan if the Strait of Hormuz at the entrance to the Persian Gulf becomes closed, he said today in Kuwait, without providing any details. Demand for the company’s crude oil “still looks good.”
Brent crude has gained 16 percent this year in London to about $125 a barrel mainly on concern conflict with Iran could choke off oil exports from the gulf, limiting supply.
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