According to CoinMeta, and as per a Bloomberg survey, OPEC's crude oil production further recovered in July, with supplies increasing by 1.16 million barrels per day to an average of 19.44 million barrels per day. Kuwait, Saudi Arabia, and Iraq, the three major Persian Gulf countries, contributed nearly all of this increase. Iraq's daily production increased by 460,000 barrels to 2.3 million barrels, Kuwait's production increased by 360,000 barrels to 1.57 million barrels, and Saudi Arabia's production increased by 390,000 barrels to 7.4 million barrels, although it is still below pre-war levels. However, Saudi exports have declined due to threats from Houthi militants to oil tankers using alternative routes through the Red Sea.