🚨 Just In: Saudi Arabia, UAE, Kuwait, and Iraq have cut oil production by 6.7 million barrels per day 🛢️
That equals roughly 33% of their combined output, creating fresh supply fears in global energy markets. ⚠️
The move comes amid rising tensions and disruptions around the Strait of Hormuz, a route that carries about 20% of the world’s oil supply.
Traders are now watching oil markets closely as supply risks could push crude prices higher in the coming days. 📈