Kuwait cuts oil production as Strait of Hormuz closure disrupts global energy markets - What does this mean? Explained

[BumRushDaShow]

Source: msn

10h


Kuwait, the fifth-largest oil producer within the Organisation of the Petroleum Exporting Countries (OPEC), announced on Saturday that it has curtailed both oil production and refining output after tanker traffic through the Persian Gulf, Starit of Hormuz, came to a near-complete standstill.

The Arab monarchy cited Iranian threats to safe navigation through the Strait of Hormuz as the cause, describing the output reduction as a precautionary measure that would be "reviewed as the situation develops."

Kuwait did not specify the volume of barrels per day being withheld from the market. The state-owned Kuwait Petroleum Corporation, however, sought to reassure global buyers, stating that it "remains fully prepared to restore production levels once conditions allow."

In January, the country was producing approximately 2.6 million barrels per day. The announcement arrives against the backdrop of a staggering rally in crude prices. On Friday, US crude futures logged their largest single-week gain since the contract's inception in 1983 — rising 35.63% to close at approximately ₹7,813 per barrel (West Texas Intermediate).

Read more: https://www.msn.com/en-in/money/economy/kuwait-cuts-oil-production-as-strait-of-hormuz-closure-disrupts-global-energy-markets-what-does-this-mean-explained/ar-AA1XK2N1

[Lovie777]

1. Well shithole and comrades want that oil from Iran and will try to get it...........................

any means necessary, which includes bombing Iran to it's no more, including many of her people.

[ananda]

2. Who'da thunk that fossil fuels would-be our downfall?

For so long, we just took it for granted ,,,

[ShepKat]

3. I knew, many people knew

The dinosaurs would not just lay down and quietly go away.
They will fight tooth and nail to maintain the status quo to maintain the grift to which they are accustomed... and they certainly don't want you talking about the fact they're pedophiles

[Bengus81]

4. But we produce more oil in the US than anywhere else,that's what we're told

Problem is a shit load of it is sold off to foreign Country so Oil barons can bank even more billions. All modern wars have been fought over Oil and religion.

This news should send a barrel of oil up $10 on opening Monday.

[paleotn]

5. $10? You're being optimistic.

[newdeal2]

6. Oil is a global commodity, just like food and materials

The US refineries are not designed for the type of oil it produces, so yes it gets sold off.

[pat_k]

7. Tantrum warning as the felon's "solutions" fall flat.

Last edited Mon Mar 9, 2026, 03:32 PM - Edit history (1)

His desperate offers of navy escorts (for which we don't have near the capacity required to restore normal traffic) and 20 billion in reinsurance (when analysts estimate more like 300 billion in commitments would be needed -- a number that is beyond the maximum DFC could commit without congressional approval) aren't making a dent

And he will get very, very, very bent out of shape that they aren't running to kiss his feet for his largesse.

He actually believed he could just snap his figures and oil and LG would be flowing again.

Cue truth social insane rants.