The UAE has reduced its oil output by about 500,000 to 800,000 barrels a day, Kuwait by roughly 500,000 barrels a day, and Iraq by around 2.9 million barrels a day.
Iran's foreign minister said Tuesday that Tehran was prepared to continue attacks for as long as necessary and ruled out negotiations, after President Donald Trump said the war with Iran would end 'very soon.'
Iran fired drones towards Saudi Arabia and Kuwait early Tuesday. Saudi Arabia's defence ministry said it destroyed two drones over the kingdom's oil-rich eastern region. In Kuwait, the National Guard said it shot down six drones targeting the country's northern and southern areas.
Tehran, meanwhile, says it is prepared for a prolonged war. Iran's Revolutionary Guards (IRGC) said they would 'determine the end of the war' and warned that Tehran would not allow 'one litre of oil' to be exported from the region if US and Israeli attacks continue.
US President Donald Trump sends mixed signals about the likely duration of the conflict, adding to uncertainty that has caused markets to swing.
