Kuwait City: Kuwait has reduced its crude oil production following ongoing attacks affecting shipping in the Strait of Hormuz, Kuwait Petroleum Corporation CEO Sheikh Nawaf Saud Al Sabah announced.
Speaking via video conference at the CERAWeek energy conference in Houston, he said the security challenges in the vital waterway have directly impacted production. He also condemned recent attacks on oil refineries in Kuwait and the wider region, describing them as unjustified and illegal.
Sheikh Nawaf warned that such actions pose a serious threat to the stability of global energy markets. He noted that alternative pipelines and strategic reserves are not sufficient to fully replace normal export volumes.
He expressed optimism that production could resume quickly once the situation stabilises, with a return to full capacity expected within three to four months.
He added that attacks on oil facilities in the Gulf not only threaten regional security but also pose a broader risk to the global economy.
