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Kuwait Cuts Oil Production Amid Iran's Strait Closure

3/24/2026

Summary

Story summary

Kuwait Petroleum Corporation's CEO Sheikh Nawaf Al-Sabah condemned Iran's closure of the Strait of Hormuz as an economic blockade.
He said Kuwait declared force majeure and reduced oil production to meet domestic needs.
The closure pushed up oil and gas prices and disrupted petrochemicals and food transport.
Iran's missile attacks on Gulf Arab countries worsened shipping, and the U.S. threatened to reopen the strait, though experts warn recovery remains challenging.

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Story summary

Kuwait Petroleum Corporation's CEO Sheikh Nawaf Al-Sabah condemned Iran's closure of the Strait of Hormuz as an economic blockade.
He said Kuwait declared force majeure and reduced oil production to meet domestic needs.
The closure pushed up oil and gas prices and disrupted petrochemicals and food transport.
Iran's missile attacks on Gulf Arab countries worsened shipping, and the U.S. threatened to reopen the strait, though experts warn recovery remains challenging.