Global Economy — 2026-05-03

Kuwait Records Zero Crude Oil Exports in April for First Time Since 1991 Gulf War

Bloomberg reported on April 20 that Kuwait Petroleum Corp. invoked force majeure covering both crude and refined product shipments, two weeks before TankerTrackers' May 2 zero-export confirmation, establishing the force majeure as a precursor event rather than a contemporaneous response. Kuwait's oil infrastructure also sustained direct strike damage during the crisis, with production at levels last seen during the 1990–91 Iraqi occupation, adding a supply-side constraint on top of the shipping disruption. CENTCOM officially characterizes its naval operation as a blockade of Iranian ports and coastline rather than the Strait of Hormuz itself, though the practical effect has broadly halted Persian Gulf tanker traffic.

Analysis
Kuwait's force majeure, supported by TankerTrackers' tracking and CENTCOM's count of 48 redirected vessels over 20 days but lacking independent official Kuwaiti confirmation, marks maritime access degraded to 1991-combat levels. Kuwait has sustained production while routing output to storage and refined exports, preserving partial revenue but leaving crude-contract buyers exposed. The force majeure may instead reflect liability-driven deterrence, with insurance withdrawal keeping tankers clear rather than a naval cordon. Resumption of Kuwaiti crude exports by end of June 2026 is uncertain: the blockade has persisted a month with no named reopening pathway, and storage constraints create a ceiling on how long zero-export status holds.

4 sources

Kuwait did not export crude oil in April for first time in 30 Years - ANI News
Kuwait exported zero barrels of crude oil in April - Pravda EN
Kuwait halts oil exports amid Strait of Hormuz blockade, impacting global supply - Crypto Briefing
Breaking: During April 2026, Kuwait exported zero barrels of crude oil for the first time since the end of Gulf War I - TankerTrackers (X/Twitter)