Kuwait Reduced Oil Production and Refining After Iranian Strikes
Kuwait, one of the world’s leading oil suppliers, has announced a reduction in crude oil production and refining. The country’s state corporation stated that the move was taken as a precautionary measure following recent Iranian attacks.
Kuwait is cutting oil production and refining as a preventive step due to threats related to the security of the Strait of Hormuz. This was announced by the state oil company Kuwait Petroleum Corporation (KPC) on the social network X.
“KPC emphasizes that this adjustment is purely precautionary and will be reviewed as the situation evolves. The company remains fully prepared to restore production volumes as soon as conditions allow,” the statement said.
Earlier, The Wall Street Journal reported on Kuwait’s plans to reduce oil production, noting that the decision was also influenced by limited storage capacity in the country.
Tehran previously announced the destruction of a US-flagged oil tanker off the coast of Kuwait. Most oil-producing countries in the Persian Gulf, including Kuwait, rely on the Strait of Hormuz as their only available route for oil exports to the Asia-Pacific region. Only Saudi Arabia, the United Arab Emirates, and Iran have pipelines capable of transporting oil products to export terminals bypassing the strait.
