OREANDA-NEWS   The leadership of Kuwait's state oil corporation, Kuwait Petroleum, has declared force majeure on energy supplies to foreign markets due to shipping disruptions in the Strait of Hormuz. This is reported by Bloomberg with reference to the documentation of the Middle Eastern energy giant.

The suspension, as specified in the client's newsletter, affected the export of oil and petroleum products. This step does not mean a complete cessation of supplies, one of the agency's interlocutors noted. However, it seems that we are talking about a significant reduction in oil exports from this country.

The Kuwaiti authorities noted that it would take several months to return the production of raw materials to the pre-war level. However, these dates will be relevant only after the end of the war in Iran. There are no significant prerequisites for the end of hostilities in the Middle East yet.