Kuwait Says Oil Output Won't Recover for 10-12 Weeks After Hormuz Reopens

Kuwait's oil production is set to take a significant hit even if the Strait of Hormuz reopens, with the country needing 10-12 weeks to recover to about 70% of normal output levels. The managing director for international marketing at Kuwait Petroleum Company highlighted this during a major energy conference, suggesting that the remaining 30% might take even longer. This delay has major implications for global oil markets, as Kuwait is a key player, and any disruption in its output can have ripple effects worldwide, impacting prices and supply stability.