Saudi Arabia, Iraq, UAE and Kuwait cut daily oil production

2026-03-10 - 09:18

Singapore – Major oil-producing nations in the Middle East have implemented substantial reductions in their daily crude output, according to a report released by Bloomberg News on Tuesday. Saudi Arabia has reportedly led the initiative by cutting its production by between 2mn and 2.5mn barrels per day. This significant contraction in supply is part of a broader regional trend aimed at addressing current market dynamics, with Iraq also recording a massive reduction of approximately 2.9mn barrels per day. The report, which cites informed sources, indicates that other key members of the Gulf cooperation sphere are following suit. The United Arab Emirates (UAE) has reduced its daily output by a margin of 500,000 to 800,000 barrels, while Kuwait has implemented a cut of half a million barrels per day. These coordinated efforts by the world’s leading exporters reflect a strategic move to manage global inventory levels. Market analysts are closely monitoring the impact of these multi-million barrel reductions on international energy prices and the wider global economic stability.