Kuwait's crude oil production in July averaged 1.971 million barrels per day, up from about 1.65 million barrels per day in June, Reuters reported. The increase suggests that oil supplies from Gulf states through the Strait of Hormuz are holding up despite the intensifying Iran conflict. Gulf oil producers are reportedly exporting crude via the strait with tankers' automatic identification systems switched off to avoid detection by Iran. Companies seen benefiting from lower crude oil prices include Nippon Express Holdings, Nippon Yusen, Japan Airlines, Tokyo Electric Power Company Holdings, and Nissui.
Nippon Yusen Kabushiki Kaisha
Japan Airlines Co., Ltd.
Nissui Corporation