Kuwait and Iraq seek to defuse Iran crisis
The states depend of the Strait of Hormuz for their oil exports and vital oil revenue
Sometimes it takes a shared crisis for neighbours who have been at loggerheads for years to put aside their differences. A one-day visit to Iraq by the Emir of Kuwait, Shaikh Sabah al-Ahmad al-Sabah, reflects a gradual thaw in relations over recent years after the trauma of Iraq's invasion of Kuwait in 1990. But, much more, it is an indication that the two states are alarmed by the rising tension in the Gulf over the Iran crisis. They have good reason to be. Both export their crude oil through the Strait of Hormuz and into the Gulf of Oman—where two tankers were recently damaged in attacks blamed on Iran. All Kuwait's exports (around 2mn bl/d) and almost all Iraq's (3.5mn bl/d, with only 100
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security






