Dubai (Bloomberg): The United Arab Emirates and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Kuwait Petroleum Corp. said it was lowering production at both its oil fields and refineries after "Iranian threats against safe passage of ships through the Strait of Hormuz." The country produced about 2.57 million barrels a day of oil in January, according to data compiled by Bloomberg. The nation's plants - Al-Zour, Mina Al-Ahmadi and Mina Abdullah - have a combined capacity of about 1.4 million barrels a day. The UAE and Kuwait, like other Gulf nations, have been heavily targeted by Iranian missiles and drones in the region's expanding war.

Source: The Star March 08, 2026 13:18 UTC