Middle East oil production plunges due to Iran war, OPEC dat

Energy

Middle East oil production plunges due to Iran war, OPEC data shows

Published Mon, Apr 13 202610:44 AM EDT

Spencer Kimball@spencekimball

 

Key Points

• Oil production has dropped sharply in Saudi Arabia, Iraq, the United Arab Emirates and Kuwait due to the Iran war, according to OPEC’s monthly report.
• Production in Iran, meanwhile, has edged slightly lower.
• Oil executives and analysts have warned that it will take months for the Gulf Arab states to restore production to pre-war levels.