Heard this second hand on theoildrum.com. Had a hard time believing it wasn't bigger news. Finally a google search came up with this news link
http://www.ameinfo.com/... :
"Kuwait's biggest field starts to run out of oil
It was an incredible revelation last week that the second largest oil field in the world is exhausted and past its peak output. Yet that is what the Kuwait Oil Company revealed about its Burgan field."
Perhaps this has been expected and so is not a large impact on the oil markets.
Watching the arrival of peak oil is like watching Hitler raise an army in preparation to invade.