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
The Strait of Hormuz has been functionally closed since February — 6 ships per day versus the usual 85 — and 6 to 7 million barrels of global supply are offline. Saudi output isn't slumping because of new threats; it's slumping because the export route has been blockaded for six months and Brent is only now crossing $100.