Brief by Shorts91 Newsdesk / 12:41pm on 09 Mar 2026,Monday International
Saudi Arabia has started reducing oil production as storage tanks begin to fill due to disruption near the Strait of Hormuz. The conflict in the Middle East has slowed maritime traffic from the Persian Gulf, affecting exports. A source familiar with the matter said the kingdom is lowering output to avoid overwhelming storage capacity. Other producers such as the UAE, Kuwait and Iraq have also reduced production. Saudi Arabia produces about 10 million barrels of oil per day and exports around 7 million barrels. Some shipments are being diverted through the Red Sea port of Yanbu. However, the pipeline route cannot fully replace exports usually sent through Hormuz. Oil prices have already crossed $100 per barrel. (PC: NDTV)
