Middle East 'Production Halt Wave' Expands: Four Countries Cut Oil Production by 6.7 Million Barrels/Day

Saudi Arabia reduces daily output by 2 to 2.5 million barrels, Iraq by about 2.9 million barrels, UAE by 500,000 to 800,000 barrels, and Kuwait by about 500,000 barrels. The four countries have collectively slashed daily production by up to 6.7 million barrels, a reduction of about one-third of their total capacity, equivalent to approximately 6% of global supply.