Blocked Strait of Hormuz
Gulf states are turning on the oil tap
Updated March 10, 2026 – 6:02 p.mReading time: 2 minutes
The Strait of Hormuz has been almost blocked since the US-Israeli attack on Iran. The states in the Gulf region can hardly export any oil. Now they draw a conclusion.
According to a media report, important oil states in the Middle East have restricted their production due to the consequences of the Iran war. Among other things, the leading OPEC country Saudi Arabia has reduced its production volume by 2 to 2.5 million barrels (159 liters each) per day, reports the Bloomberg news agency, citing people familiar with the matter.
In addition, the United Arab Emirates reduced production by 500,000 to 800,000 barrels per day, Kuwait by around half a million barrels and Iraq by around 2.9 million barrels.
For comparison, global demand for crude oil is just over 100 million barrels per day. The background to the reduction in production is the de facto closure of the Strait of Hormuz as a result of the Iran war. Since the US and Israeli attacks on Iran began at the end of February, hardly any ships have been sailing through the strait. The transport of energy raw materials from the producing regions in the Persian Gulf has practically come to a standstill. As a result, the storage tanks of the producing countries are full and cannot hold any further quantities of crude oil.
There has recently been some hope for an improvement in the oil market after US President Donald Trump promised a quick end to the war in the Middle East. The US broadcaster CBS News quoted him as saying: “I think the war is almost over.” This had recently pushed the oil price down. Compared to the time before the war began at the end of February, the raw material is still significantly more expensive.
Market observers see Trump’s statements as a new willingness on the part of the White House to publicly signal that steps to end the war are possible. However, the president did not provide any specific information. He also gave no further details about the plan to escort tankers through the Strait of Hormuz in the Persian Gulf.
