Oil exports hit due to bad weather

Oil exports from terminals in Kuwait, Saudi Arabia and Iran were disrupted today due to bad weather in the region, shipping sources said.

“Oil exports were stopped on Sunday morning due to low visibility and will resume once weather conditions are better,” Ahmad Al-Muzaiel, a spokesman for state refiner Kuwait National Petroleum Co (KNPC) said.


High pressure riding in from Saudi Arabia is interacting with a low pressure system over Iran, which is influencing the weather throughout the region, said a weather report.

Kuwait, an OPEC member which sits on 10 percent of global oil reserves, pumped around 2.32 million barrels per day in January, according to a Reuters survey.

The world’s seventh-largest oil exporter has three refineries — Shuaiba, Mina Abdullah and Mina al-Ahmadi — with a total refining capacity of around 930,000 bpd.

Saudi Aramco’s oil exports from its joint-venture refinery with Shell at the Gulf port of Jubail have been disrupted due to the bad weather, shippers said.

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