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2026-04-08 02:23:42
[Middle East Oil Production Expected to Drop by 9 Million Barrels Per Day] The global energy market has been impacted by the war with Iran, with the US government estimating that major Middle Eastern oil-producing countries will halt over 9 million barrels of oil production per day in April. According to the US Energy Information Administration (EIA)'s Short-Term Energy Outlook, total daily crude oil production in Iraq, Saudi Arabia, Kuwait, the UAE, Qatar, and Bahrain decreased by 7.5 million barrels in March. The agency projects this figure will reach 9.1 million barrels in April. These figures further demonstrate that the war with Iran has caused one of the most severe disruptions to the global energy market in history, due to severe disruptions to shipping in the crucial Strait of Hormuz. The resulting surge in oil prices also means that global demand growth is expected to be only half of what was previously predicted. The report indicates that if the conflict ends by the end of April as the agency assumes, the production stoppage in May could decrease to 6.7 million barrels per day. By the end of 2026, production is expected to recover to near pre-conflict levels.
