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The Economic Times

Top News / The Economic Times

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Saudi starts cutting oil production

Saudi Arabia is reducing oil output as the Strait of Hormuz faces a near-blockage. Storage tanks are filling up. Other nations like UAE, Kuwait, and Iraq are also lowering production. This move aims to prevent overwhelming storage and a complete halt in oil exports. The conflict in West Asia has severely impacted maritime traffic through the Strait.

10 Mar 2026 12:56 am