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Kuwait Cuts Oil Production After Iranian Strike: What's the Impact on Petrol Prices?
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Kuwait Slashes Oil Output Amid Gulf Tensions; Global Petrol Prices at Risk?
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News18
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07-03-2026, 20:50
Kuwait Slashes Oil Output Amid Gulf Tensions; Global Petrol Prices at Risk?
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Kuwait Petroleum Corporation cuts crude oil production as a precautionary measure due to rising Gulf tensions and security risks.
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Decision follows Iranian warnings regarding safe passage of ships and concerns over the Strait of Hormuz, a vital oil transport route.
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The state-owned company states it's a risk management strategy and production can be restored once the situation normalizes.
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Kuwait assures domestic oil and fuel needs are unaffected, but global markets are closely monitoring potential international price impacts.
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Indian government reassures no petrol-diesel price hike, but explains LPG price increase.
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