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Gulf Oil Production Shortfall Reaches Half a Billion Barrels This Year
Oil production in the Gulf region has fallen short by approximately 500 million barrels this year. If the Strait reopens on Monday, the total shortfall is estimated at 900 million barrels. Affected countries include Saudi Arabia, Iraq, Kuwait, UAE, Qatar, and Bahrain.
Apr 17, 4:52 PM·1m read1 source
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US Energy Information Administration / Wikimedia (Public domain)Audio version
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Oil production in several Gulf countries has not met expected levels this year, resulting in a shortfall of about half a billion barrels. The estimate assumes that production would have occurred under normal conditions.
If the Strait reopens on Monday, the overall shortfall for the period is projected to reach roughly 900 million barrels.
This calculation includes the current year's figures up to the potential reopening date.
The countries impacted by this production gap include Saudi Arabia, Iraq, Kuwait, the United Arab Emirates, Qatar, and Bahrain.
The source referenced a chart displaying data for each of these nations.
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