Saudi Oil Output Slumps as Iran War, Houthi Threats Disrupt Vital Export Routes - WSJ
Saudi Oil Output Slumps as Iran War, Houthi Threats Disrupt Vital Export Routes - WSJ
Source: WSJ
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DW NOTE
Saudi Arabia is cutting output while its primary export route — the Red Sea — remains under Houthi interdiction and the Strait of Hormuz has been effectively closed since February 28. The kingdom now faces supply disruption from two directions simultaneously: voluntary OPEC+ cuts meeting involuntary logistics collapse. Oil at $101 isn't a supply response, it's a blockade premium with no clearing mechanism in sight.