Iran war triggers sharp drop in Middle East crude oil exports
Illustration: Ashrafun Naher Ananna/TBS Creative
Amid the US-Israel war on Iran, combined exports from Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates fell from 469 million barrels in February to 263 million barrels in March, a decline of 44%. Oman stood out as the only outlier as many of its ports are located outside the Straits of Hormuz and recorded a modest increase in exports.
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