Kuwait Announces Preemptive Crude Oil Production Cut Amid Iran Tensions

The Kuwait Petroleum Corporation (KPC) has announced a preemptive reduction in crude oil production and refining due to ongoing attacks and threats from Iran regarding the safe passage of ships through the Strait of Hormuz.

According to KPC, this move is part of its strategy to manage risks and ensure business continuity. The adjustment is strictly precautionary and will be reviewed based on developments. KPC states it is ready to restore production levels as soon as conditions allow.