Kuwait’s national oil company has announced a decrease to its production of crude due to Iranian attacks and threats to the Strait of Hormuz, a key transit point for Gulf hydrocarbons, AFP reports.
“In light of the ongoing aggression by the Islamic Republic of Iran against the State of Kuwait, including Iranian threats against safe passage of ships through the Strait of Hormuz, KPC (Kuwait Petroleum Corporation) has implemented a precautionary reduction in crude oil production and refining throughput as part of its risk management and business continuity strategy,” it says, adding that it would be “reviewed as the situation develops”.
