Hormuz Crisis Reduced Persian Gulf Oil Production by Over 6Mln Bpd - Argus

NAMPA / Sputnik

2026-03-17

MOSCOW, March 17 (RIA Novosti) - The Persian Gulf countries have reduced production by 6.2 to 6.9 million barrels of oil per day altogether due to the crisis in the Strait of Hormuz, according to estimates from the pricing agency Argus. Saudi Arabia, the United Arab Emirates (UAE), and Bahrain have followed Iraq and Kuwait in restricting production due to their inability to maintain exports following the effective closure of the Strait of Horm......

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