Kuwait Petroleum Company expects to recover about 70% of oil production within six to eight weeks after the reopening of the Hormuz Strait, stated the managing director of the International Marketing Company.

Sheikh Khaled Ahmad Al-Sabah made this statement on Tuesday at the S&P Global Energy Middle East Petroleum and Gas Conference. According to him, it will take about another month to restore the remaining 30% of production capacity.

According to Al-Sabah, the operations of the Company’s refineries will get back to normal production levels faster — approximately within two to three weeks after the crisis wraps up.

"Oil production could bounce back to 70% of normal levels within 6-8 weeks, with another month needed to recover the remaining 30%," said Al-Sabah.

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