Egypt is planning to import at least one million barrels of Libyan crude oil per month, Bloomberg reported. This strategic shift is designed to compensate for the total suspension of Kuwaiti oil supplies and ensure the stability of the domestic fuel market. A Strategic energy reorientationThe Hormuz bottleneckThe Strait of Hormuz, which typically handles 20% of the world’s daily oil supply, has been effectively closed since late February 2026 due to the ongoing conflict. This has forced major Gulf producers like Kuwait to trigger emergency exit from oil deals, as tankers are unable to safely navigate the Persian Gulf. Replacing the Kuwaiti linkHistorically, Egypt has relied on Kuwait for 1 to 2 million barrels of crude monthly to feed its domestic refineries.

Source: Egypt Independent April 03, 2026 10:42 UTC