3D-printed oil pump jacks and the Kuwait Petroleum Company (KPC) emblem seem on this illustration taken March 2, 2026. Picture: Reuters
Kuwait Petroleum Company (KPC) started slicing oil output on Saturday and declared drive majeure, including to earlier oil and fuel reductions from Iraq and Qatar because the US-Iran struggle blocked shipments from the Center East for the eighth consecutive day.
The struggle has blocked the world’s most vital oil artery, the Strait of Hormuz, which is answerable for 20% of world oil and LNG provide. Analysts predict the United Arab Emirates and Saudi Arabia will must additionally lower output quickly as they run out of oil storage.
KPC declared drive majeure, in accordance with a commerce discover seen by Reuters, after it applied a discount in crude oil manufacturing and refining throughput due to the battle within the Center East.
Kuwait Petroleum Company (KPC) proclaims that in gentle of the continuing aggression by the Islamic Republic of Iran towards the State of Kuwait, together with Iranian threats towards secure passage of ships by way of the Strait of Hormuz, KPC has applied a precautionary discount in… pic.twitter.com/tOmwNK7ykk
— KPC | مؤسسة البترول الكويتية (@kpcofficialkw) March 7, 2026
The nationwide oil firm didn’t say by how a lot it might cut back output. In February, Kuwait produced round 2.6 million barrels per day of crude oil.
It stated the discount was precautionary and would be reviewed because the state of affairs develops, and it remained prepared to revive manufacturing ranges when circumstances enable.
KPC declared drive majeure due to what it stated have been express threats by Iran towards the secure passage of ships by way of the Strait of Hormuz, persevering with assaults by Iran on Kuwait and the “nearly whole absence” inside the Arabian Gulf of vessels obtainable to ship crude oil and merchandise, the discover confirmed.
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The corporate declined to touch upon the discover.
KPC is a significant exporter of naphtha to Asia and a main jet gasoline exporter to north-west Europe. Naphtha is a feedstock for petrochemicals manufacturing.
The US-Israeli struggle on Iran has already spilt past Iran’s borders, as Tehran has responded by hitting Israel and Gulf Arab states internet hosting US army installations and Israel has launched contemporary assaults in Lebanon after Hezbollah fired throughout the border.
