Analysts predict the United Arab Emirates and Saudi Arabia will have to also cut output soon as they run out of oil storage. March 7 (Reuters) - Kuwait Petroleum Corporation began cutting oil output on Saturday and declared force majeure, adding to earlier oil and gas reductions from Iraq and Qatar as the U.S.-Iran war blocked shipments from the Middle East for the eighth consecutive day. The war has blocked the world’s most important oil artery the Strait of Hormuz which is responsible for 20%

Tag-uri: Petrol