Skip to Main ContentKuwait Cutting Oil Production Amid Fallout From Iran Conflict: ReportKuwait is running out of oil storage space and will stop production amid fallout from the Iran conflict, sources familiar with the matter told The Wall Street Journal on Friday.The reported oversupply is a result of traffic through the Strait of Hormuz, the only water pathway from the Persian Gulf into the open ocean, coming to a virtual standstill following U.S.-Israel strikes on Iran. The reported situation in Kuwait could further drive up the global price of oil, which has already spooked the U.S. stock market and shot up prices at the gas pump. Major oil storage facilities in Saudi Arabia and the United Arab Emirates are also expected to hit their limits within three weeks.Read more at The Wall Street Journal:See All UpdatesClose