JOURNAL ARTICLE

Kuwait Declares Force Majeure on Oil Shipments on Hormuz Halt.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Lua, Nicholas; MacDonald, Fiona; Paola, Anthony Di 3 of 3

Abstract

The article focuses on Kuwait's declaration of force majeure on crude oil and refined product shipments due to the blockade of the Strait of Hormuz, which has hindered vessel access to the Persian Gulf. State-run Kuwait Petroleum Corp. (KPC) invoked this contractual clause, allowing it to miss deliveries without fully halting supplies. The blockade, linked to the Iran war, has severely disrupted regional oil traffic, causing storage capacity issues and forcing output reductions across Gulf countries. Kuwait’s oil production has dropped to levels last seen in the early 1990s, with recovery expected to take months after hostilities end. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/04, pN.PAG
  • Document Type:Article
  • Subject Area:Geography and Cartography
  • Publication Date:2026
  • Accession Number:193117648
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