#uae

#saudiarabia , #uae , #iraq , and #kuwait have cut #oil production by some 6.7 mn bbl / d — shaving some 6% off global oil supply, #bloomberg reports, citing people familiar with the matter. Saudi trimmed some 2.5 mn bbl / d, Iraq roughly 2.9 mn bbl / d, the UAE 500k-800k bbl / d, and Kuwait about 500k bbl / d. For Saudi Arabia, the UAE, and Kuwait, that translates to roughly 20-25% below February output levels. #StraitOfHormuz #usa #Israel #war on #iran