UAE and Kuwait start oil output cuts after Hormuz blockage
via bloomberg.com
Short excerpt below. Read at the original source.
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. Abu Dhabi National Oil Co. is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp. said […]