UAE and Kuwait start oil output cutsHORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’BloombergThe United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. ADNOC operates a 1.5 million barrel-a-day pipeline to Fujairah on the UAE’s western coast to avoid the Hormuz Strait. The country produced about 2.57 million barrels a day of oil in January, data compiled by Bloomberg showed. The nation’s plants — Al-Zour, Mina al-Ahmadi and Mina Abdullah — have a combined capacity of about 1.4 million barrels a day.

Source: Taipei Times March 08, 2026 16:07 UTC