OPEC: Oil output in Middle East plunges in March

 Crude oil production in major Gulf Arab nations plunged significantly in March 2026 due to the Iran war, which effectively shut down the Strait of Hormuz, the Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report released on Monday.

OPEC output fell by 27%, or roughly 7.9 million barrels per day (bpd), to 20.8 million bpd, with sharp drops in Saudi Arabia, Iraq, the United Arab Emirates, and Kuwait as a result of disruptions and export incapacity.

Iraq was hit the most, with output falling 61% from 4.2 million barrels per day in February to 1.6 million bpd in March. According to the figures, output fell 44% in the United Arab Emirates and 53% in Kuwait on a monthly basis. The largest producer in OPEC, Saudi Arabia, saw a 23% decline in oil production, from 10.1 million bpd to 7.8 million bpd.

https://breakingthenews.net/Article/OPEC:-Oil-output-in-Middle-East-plunges-in-March/66057253