Kuwait Cuts Oil Production Amid Strait of Hormuz Tensions Affecting Global Markets

Kuwait has reduced its crude oil production and refining output as a precautionary measure amid escalating tensions in the Gulf region, particularly due to Iranian warnings and disruptions at the Strait of Hormuz, a critical passage for global oil shipments. Kuwait Petroleum Corporation emphasized this step is part of risk management and can be reversed when conditions stabilize. Despite these developments, India has assured sufficient domestic fuel reserves to meet demand amid rising crude prices.