11:30 - 17.03.2026
March 17, Fineko/abc.az. Amid the escalation in the Middle East and the de facto closure of the Strait of Hormuz, oil production in the UAE has decreased more than by 50%.
ABC.AZ informs that ADNOC has partially halted both offshore and onshore projects, with offshore production effectively stopped.
The drone attacks have disrupted key infrastructure, including the Fujairah Port and the Ruwaisa refinery. The decline in production has also affected other countries in the region: Saudi Arabia has lowered production by ~ 20%, Iraq — by 70%.
The overall drop in production in the region is estimated at 7-10 million b/d, which has already pushed oil prices above $100 per barrel.
