Kuwait has begun reducing crude oil production and declared force majeure after escalating conflict in the Middle East disrupted shipping through the Strait of Hormuz, one of the world’s most critical energy corridors.
Kuwait Petroleum Corporation (KPC) started cutting output on March 7 as the US-Iran war blocked tanker movements in the region for the eighth consecutive day.
The corporation said it had reduced crude oil production and refining throughput as a precaution because of the worsening security situation in the region.
The national oil company declared force majeure after implementing the cuts.
The company did not disclose how much production had been reduced. In February, Kuwait produced around 2.6 million barrels per day of crude oil, making it one of the significant oil producers in the Gulf region.
Officials said the reduction is precautionary and will be reviewed as the situation develops. KPC also said production could return to normal once shipping conditions
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