Iran's drones strike kuwait, threatening global oil supplies

Iranian drones launched a surprise attack on Kuwait's oil infrastructure on Sunday, causing widespread damage and further straining global oil supplies already strained by the US and Israel's escalating conflict with Tehran.

Attacks hit major petrochemical and oil facilities

Fires broke out at several key locations, including the Shuwaikh oil sector complex, which houses Kuwait's oil ministry and Kuwait Petroleum Corporation headquarters. The state-owned oil company reported material damage but no casualties from the strike.

Other facilities reportedly hit included petrochemical plants in Kuwait, the UAE and Bahrain. An office complex housing Kuwaiti government ministries also suffered significant damage, although without fatalities.

This latest assault on Middle Eastern oil infrastructure marks the latest salvo in a months-long campaign by Iran to disrupt energy flows to its regional adversaries. The conflict has sent global oil prices soaring, with Brent crude more than doubling since the start of the year to hit a peak of $119.50 per barrel in March.

As OPEC+ members gathered to discuss bolstering output, they warned the costly and time-consuming repairs to damaged facilities could continue to squeeze global oil supplies for months to come. The group agreed in principle to raise production by 206,000 barrels per day in May, but that increase may be largely symbolic while Iran's effective closure of the Strait of Hormuz continues to severely constrain oil shipments.