"Saudi cuts daily oil output by at least 2 million barrels"-Reuters

Uk Jin

Summary

Reuters reported that Saudi Arabia, in the fallout from the Iran war, cut crude oil production by about 2 million barrels a day, reducing it to around 8 million barrels.
It said Saudi halted output at the major offshore oilfields Safaniya and Zuluf, bringing crude output down from about 10 million barrels to around 8 million barrels.
Analysts said the cut followed the closure of shipping routes through the Strait of Hormuz amid clashes involving the United States, Israel and Iran, which has widened production disruptions among Middle Eastern oil producers, though Aramco has not issued an official statement.

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Saudi Arabia has reportedly reduced crude oil production by about 2 million barrels a day in the fallout from the Iran war, bringing output down to around 8 million barrels.

On the 13th (local time), Reuters, citing multiple sources, reported that the cut of roughly 2 million barrels per day came as Saudi halted production at two major offshore oilfields. As a result, Saudi crude output is said to have fallen from about 10 million barrels previously to roughly 8 million barrels. The sources said the suspended fields were Safaniya and Zuluf.

The latest cut is seen as stemming from disruptions to shipping routes through the Strait of Hormuz after clashes involving the United States, Israel and Iran began, exacerbating production setbacks across Middle Eastern oil-producing countries.

Saudi state oil company Aramco has not issued an official statement on the cut.