A petrol station in Bangkok displays a sign reading "Out of fuel temporarily and awaiting delivery" on March 7, 2026. (Photo: Somchai Poomlard)LONDON — Oil production cuts in the Middle East are deepening as the crucial Strait of Hormuz waterway remains at a near-standstill, widening the chaos in energy markets. The conflict in the region, which is now in its second week and has sucked in more than a dozen countries, has forced output cuts as the effective closure of the main export route causes storage tanks to fill up. The shutdowns drove oil toward US$120 a barrel on Monday, though prices pulled back Tuesday after US President Donald Trump suggested the war may end soon. Saudi Aramco Chief Executive Officer Amin Nasser declined to comment on output levels in an earnings call on Tuesday.

Source: Bangkok Post March 10, 2026 08:40 UTC