Exclusive-Saudi Aramco reducing output at two oilfields, two sources say

By Yousef Saba

Mon, March 9, 2026 astatine 8:14 AM CDT 2 min read

By Yousef Saba

March 9 (Reuters) - Saudi lipid elephantine Aramco has begun cutting output astatine 2 of its oilfields, 2 sources said connected Monday, ‌after the captious Strait of Hormuz was choked by the U.S.-Israeli warfare ‌on Iran and consequent attacks connected the waterway.

It was not instantly wide astatine which fields and ​by however overmuch accumulation was being curtailed. Aramco, which has been rerouting immoderate of its crude cargoes to the Red Sea larboard of Yanbu, declined to comment.

The reductions by the world's apical lipid exporter underscore the terrible logistical bottlenecks successful the portion ‌since the U.S. and Israel ⁠began attacking Iran connected February 28 and Tehran responded by launching hundreds of missiles and drones, including astatine Gulf countries hosting ⁠U.S. subject facilities.

Several of Saudi Arabia's neighbours person besides chopped accumulation arsenic shipping successful the lipid transit chokepoint, carrying astir a 5th of planetary lipid and liquefied earthy ​gas flows, ​has crushed to a adjacent halt.

Kuwait Petroleum ​Corporation has reduced lipid output ‌and declared unit majeure connected shipments, portion Qatar halted liquefied earthy state (LNG) accumulation astatine its monolithic Ras Laffan export hub pursuing drone strikes and besides declared unit majeure. Oil accumulation from Iraq's main confederate fields has dropped by astir 70% arsenic retention limits are reached, the United Arab Emirates' ADNOC is reducing offshore output ‌and Bahrain's Bapco Energies besides declared unit majeure.

The ​unprecedented disruption has roiled planetary vigor markets, pushing ​Brent crude futures to their ​highest levels since mid-2022 astatine adjacent to $120 a barrel.

While Saudi ‌Arabia has accelerated crude shipments from the ​Red Sea via ​the East-West pipeline to Yanbu, the redirected volumes are insufficient to offset the millions of barrels sidelined by the Gulf closure, analysts person said.

That could ​leave consumers and businesses ‌worldwide facing months of elevated substance prices, arsenic suppliers grapple with damaged ​infrastructure and paralysed logistics adjacent if hostilities cease quickly.

(Reporting by Yousef ​Saba; Editing by Jan Harvey, Kirsten Donovan)