Saudi Arabia cuts oil output by 20% amid Hormuz disruptions

Saudi Arabia has reduced its crude oil production by approximately 20%, bringing its daily output down to around eight million barrels, Reuters reported. The cut is a response to disruptions in maritime transport through the Strait of Hormuz following U.S. and Israeli airstrikes on Iran. A key factor in the reduction is the shutdown of offshore oil fields such as Safaniya and Zuluf, which collectively produce over two million barrels per day. According to the International Energy Agency (IEA), major Gulf producers—including Iraq, Qatar, Kuwait, the United Arab Emirates, and Saudi Arabia—have cut output by a total of more than 10 million barrels since the war with Iran began. Further reductions are anticipated if shipping disruptions continue.