Investing.com -- Crude oil and condensate exports from Gulf countries remained largely unchanged in July, staying approximately 40% below pre-war levels, according to shipping data. The stability in export volumes has helped reduce concerns about more severe supply disruptions.

Combined exports from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran increased 2% from June to average 10.7 million barrels per day in July, data from Kpler showed. Shipments reached between 12 million and 13 million bpd during the first half of July before slowing as fighting between Iran and the United States resumed.

Iraq led the monthly increase by doubling its exports from June, supported by higher flows from Kuwait and Iran. Saudi Arabia and the UAE recorded lower shipments during the period. Nine additional very large crude carrier loadings contributed to Iraq's export growth in July, according to Vortexa analyst George Morris.

Tanker traffic through the Strait of Hormuz and the Bab el-Mandeb remained well below levels recorded before the U.S.-Israeli war with Iran started on February 28. At least 14 vessels reported attacks in the region to the International Maritime Organization in July, compared to eight in June.

Kuwait increased crude production to 1.971 million bpd in July from about 1.65 million in June, Reuters reported earlier.

Saudi Aramco CEO Amin Nasser said Tuesday the world has lost more than 2.6 billion barrels of oil since the war began. Rebuilding inventories would take about 18 months at a rate of 2.1 million bpd, even if Hormuz reopened immediately, Nasser stated.

Saudi crude exports from the Red Sea port of Yanbu declined last month as Yemen's Iran-backed Houthis increased attacks near the Bab el-Mandeb strait. Yanbu loadings fell to 3 million bpd after July 20 from 3.8 million bpd in April through June, Energy Aspects data showed.